Regulatory Background

The penalty was levied under Regulation 23(9) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as per SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 issued on July 11, 2023 and last updated on January 30, 2026.

Details of Non-Compliance

  • Requirement: Disclosure of Related Party Transactions for the half-year ended March 31, 2026 in XBRL format
  • Due Date: April 20, 2026 (date of declaration of financial results for FY 2025-26)
  • Actual Filing Date: April 21, 2026
  • Reason for Delay: Technical and system-related issues
  • Days of Non-compliance: 1 day

Penalty Details

  • Basic Fine: ₹5,000 (₹5,000 per day as prescribed)
  • GST @18%: ₹900
  • Total Fine Payable: ₹5,900 (inclusive of GST)
  • Fine Levied By: Both BSE and NSE (separate notices received)

Board Action

The matter was placed before the Board of Directors on July 15, 2026. The Board took note of the delay and advised to strengthen internal processes for timely filing.

Exchange Requirements and Consequences

  • Company must inform promoters about the non-compliance
  • Fine must be paid within 15 days from June 30, 2026 (by approximately July 15, 2026)
  • Failure to pay may result in freezing of entire shareholding of promoters in the company and all other securities held in their demat accounts
  • Company must submit board comments to exchanges through NEAPS portal (path: NEAPS > COMPLIANCE > Announcements > Announcements/CA)

Waiver Process

  • Waiver applications must be submitted through NEAPS portal (path: NEAPS>>Compliance>>Fine Waiver>>Waiver Request)
  • Compliance is prerequisite for waiver application
  • Non-refundable processing fee of ₹10,000 + 18% GST applicable if fine amount exceeds ₹5,000 (exclusive of GST)
  • Single application required for multiple non-compliances

Payment Instructions

For NSE Payment:

  • Bank: IDBI BANK LTD
  • Branch: BANDRA KURLA COMPLEX, MUMBAI
  • RTGS/IFSC CODE: IBKL0001000
  • Payment details to be updated at: NEAPS > Payment > SOP Fine Payment

For BSE Payment:

  • Virtual Bank Account: BSER13997
  • Bank: ICICI Bank Ltd.- CMS Branch
  • IFSC Code: ICIC0000104
  • Account Name: BSE Limited (specifically for SOP fines/penalties/waiver only)
  • Payment details to be emailed to bse.soplodr@bseindia.com with remittance details on company letterhead

Company Commitment

The company is committed to ensuring timely compliance with all applicable regulatory requirements and making all filings within prescribed timelines going forward.

#Tags #BillionbrainsGarageVentures #SEBIRegulation23(9) #SEBIDisclosure #RegulatoryCompliance #FinancialPenalty #Neutral