Company Disclosure: Regulatory Fine Imposition

Key Quantitative Figures

  • Fine amount: ₹1,84,080 (Rupees One Lakh Eighty Four Thousand Eighty Only), inclusive of GST

Dates of Action

  • Date of receipt of communication from BSE: May 27, 2026
  • Initial communication from BSE: May 08, 2026
  • Board meeting scheduled: June 06, 2026

Parties Involved

  • Regulatory authority: BSE Limited
  • Director involved: Mrs. Chandra Lekha Poddar (DIN: 00290957)
  • Company Secretary & Compliance Officer: Aakanksha Jaiswal

Nature of Violation

Non-compliance with Regulation 17(1A) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The specific violation relates to Mrs. Chandra Lekha Poddar having attained the age of 75 years, requiring shareholder approval for her continued appointment as director.

Financial Impact

As explicitly disclosed: "There is no material impact on financial operation except to the extent of Fine amount - Rs. 1,84,080/- (incl. of GST) imposed by BSE."

Reason for Delay and Corrective Actions

The company received initial communication from BSE on May 08, 2026 regarding Mrs. Chandra Lekha Poddar's age and applicable Regulation 17(1A) requirements. The matter was placed before management for consideration and appropriate action. The company has:

  • Scheduled a board meeting for June 06, 2026 to consider convening an Annual General Meeting
  • Plans to seek shareholder approval for Mrs. Poddar's appointment (she was appointed as Additional Director in the category of Non-Executive Director with effect from January 13, [year not specified])
  • Initiated process of submitting appropriate representation/reply to the Exchange
  • Taken necessary corrective measures to ensure compliance

The company states that any delay in disclosure was "inadvertent, procedural and unintentional in nature and neither wilful nor deliberate."

Compliance Status

The company has initiated necessary corrective actions for ensuring compliance with Regulation 17(1A) and proposes to place the matter before shareholders at the ensuing Annual General Meeting. The company remains committed to ensuring timely compliance with all regulatory requirements.