Date: May 28, 2026
Disclosure Context
This is a regulatory disclosure made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Regulatory Action & Compliance Update
The company received an email dated May 27, 2026, from the National Stock Exchange of India Limited (NSE) and BSE Limited (BSE) regarding non-compliance with Regulation 17(1) of the SEBI Listing Regulations.
The nature of the non-compliance was the failure to appoint an independent woman director on the company's board for the quarter ended March 31, 2026.
Actions Taken by Exchanges:
- NSE levied a fine of ₹4,42,500 (inclusive of GST)
- BSE levied a fine of ₹4,42,500 (inclusive of GST)
- Total fine amount: ₹8,85,000
Company's Response and Compliance Status:
- The company clarified it was in the process of identifying a suitable candidate.
- Appointed a Woman Independent Director effective March 17, 2026, for a period of three consecutive years.
- This appointment brought the company into compliance with Regulation 17 and Regulation 17(1)(c) of the SEBI Listing Regulations, 2015.
Payment Details:
- The due date for payment was June 11, 2026 (15 days from receipt).
- The company paid the fine of ₹4,42,500 to NSE on May 28, 2026.
- The company paid the fine of ₹4,42,500 to BSE on May 28, 2026.
- There was no delay or default in the payment of the fines.
Impact Assessment
The company states there is no material impact on its financials, operations, or other activities as a result of this action and fine.
Other Sections
Financial Results: Not Specified
Dividend Declaration: Not Specified
KMP / Board Changes: The disclosure confirms the appointment of a Woman Independent Director, though specific details (name, profile) are not provided in this document.
Board Meeting Outcomes: Not Specified
Auditor’s Report: Not Specified
Disinvestment / Strategic Actions: Not Specified