AXISCADES Technologies Limited disclosed payment of fines levied by the National Stock Exchange of India Limited (NSE) and BSE Limited for non-compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The disclosure was made pursuant to SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024 and notices received from both exchanges dated May 27, 2026 (NSE Ref: NSE/LIST-SOP/COMB/FINES/0611, BSE Ref: SOP-Review letter).

Nature of Non-Compliance

The company was found non-compliant with Regulation 17(1) of SEBI LODR Regulations pertaining to the composition of the Board, including failure to appoint a woman director, for the quarter ending March 31, 2026.

Financial Impact

The company paid a total fine of ₹495,600 (inclusive of 18% GST) to the exchanges. The fine breakdown was:

  • Basic fine: ₹420,000 (84 days × ₹5,000 per day)
  • GST @18%: ₹75,600
  • Total payable: ₹495,600

Board Review and Compliance Status

The details of the fine were placed before the Board of Directors at its meeting held on June 29, 2026. The Board noted that:

  • The composition of the Board had been duly regularized
  • Compliance with applicable regulations was achieved on March 26, 2026
  • The company remains committed to upholding high standards of corporate governance

Exchange Notices and Warnings

The exchanges' notices dated May 27, 2026 specified that:

  • Failure to pay fines within 15 days could result in freezing of entire promoter shareholding
  • Consecutive default with Regulations 17(1), 18(1) and 27(2) could lead to trading in 'Trade for Trade' basis (Z Category)
  • Waiver applications required compliance achievement first and non-refundable processing fees of ₹10,000 + 18% GST
  • The company was required to place the matter before its Board and submit comments to exchanges

Payment Details

The fine was payable to:

  • NSE: RTGS/NEFT to IDBI Bank Ltd, A/C used for Annual Listing fees, IFSC: IBKL0001000
  • BSE: Virtual Bank Account No. BSER08981 at ICICI Bank Ltd.- CMS Branch, IFSC: ICIC0000104

Other Regulations Assessed

The exchanges also assessed compliance with other regulations including 17(1A), 17(2), 17(2A), 18(1), 19(1)/19(2), 20(2)/(2A), 21(2), and 27(2), but no fines were levied for these regulations for the March 2026 quarter.