Nature of the Event
ASAL Automotive Stampings and Assemblies Limited provides a board response to fines levied by stock exchanges for non-compliance with SEBI Listing Obligations and Disclosure Requirements Regulations.
Board Deliberations
The Board of Directors considered the notices at its meeting held on Friday, July 24, 2026. The Board noted that the non-compliance occurred due to practical constraints in appointing a suitable candidate with adequate experience. The selected candidate faced difficulties committing to a joining date due to mandatory notice period requirements with their previous employer.
Resolution of Non-Compliance
The Board appointed Mr. Krishna Dayma (Membership Number: A54238) as Company Secretary and Compliance Officer with effect from March 13, 2026, thereby achieving compliance with Regulation 6(1) of the Listing Regulations. The Company provided suitable intimation of this appointment to the stock exchanges.
Financial Impact
The Company has paid the fine levied by the exchanges along with applicable GST. The exact amount of the fine is not quantified in the disclosure.
Future Commitment
The Board expresses its commitment to ensuring strict adherence to all applicable provisions of the Listing Regulations and has advised management to strengthen internal monitoring mechanisms to prevent recurrence of such instances.
Document References
The disclosure specifically responds to:
- NSE letter reference: NSE/LIST-SOP/COMB/FINES/0573 dated May 20, 2026
- BSE letter reference: SOP-CReview/QTR-Mar-26 dated May 20, 2026