Key Quantitative Figures
- Fine amount: ₹5,36,900
Dates of Action
- BSE notice date: 25th May, 2026 (received at 7:01 PM)
- Company response date: 26th August, 2026
- Quarter of non-compliance: ended 30th June, 2026
Parties Involved
- Andrew Yule & Co. Ltd. (issuing company)
- BSE Limited (regulatory authority)
- Ministry of Heavy Industries, Government of India (administrative ministry)
- President of India (appointing authority for directors)
Purpose and Rationale
The company has requested BSE Limited to grant waiver of the imposed fines based on its status as a Central Public Sector Enterprise (CPSE) under the administrative control of the Ministry of Heavy Industries, Government of India. The company states that the power to appoint Directors on the Board vests with the President of India.
Current Status and Actions
Andrew Yule & Co. Ltd. has taken up the issue with its administrative ministry for appointment of requisite number of Independent Directors to ensure future compliance with SEBI LODR Regulations. The company's waiver request is pending with BSE Limited.
Financial Impact
The fine amount of ₹5,36,900 represents a confirmed financial liability, though the company is seeking waiver. Impact on cash flows if enforced: outflow of ₹5,36,900.