Date: July 30, 2026
Board Meeting Outcomes
The Board of Directors, at its meeting held on July 30, 2026, took note of the following regarding a fine levied by the National Stock Exchange of India Limited (NSE):
- Noted an NSE Notice (Ref. No. NSE/LIST-SOP/FINES/0546) dated May 14, 2026, regarding a delay of 1 day in the submission of the shareholding pattern (SHP) for the quarter ended March 31, 2026.
- Noted that the Company had filed a waiver application dated May 20, 2026, with NSE, giving reasons for the delay.
- Noted that NSE, vide letter dated July 8, 2026, had informed that the Company's request for a waiver of the fine had been considered favorably.
The management informed the Board that the delay was inadvertent and unintentional, with no mala-fide intention or deliberate non-compliance. The management stated that more care would be taken in the future to prevent a recurrence. The Board of Directors took note of the same.
Regulation, Compliance & Legal Disclosures
Nature of Non-Compliance:
- Delay of 1 day in submitting the shareholding pattern (SHP) for the quarter ended March 31, 2026, under Regulation 31 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Fine Details:
- A fine of ₹2,000 was levied for the 1-day delay.
- GST @18% amounted to ₹360.
- The total fine payable was ₹2,360.
Company's Explanation for Delay:
- The Company was under a bona-fide understanding/belief that the filing of the SHP was part of a single filing system through API-based integration.
- Accordingly, the SHP was filed with BSE Limited (BSE) within the stipulated timeline.
- As soon as it was noted that the SHP should have been filed on the portals of BSE and NSE separately, it was immediately uploaded on NSE's portal on April 22, 2026.
Waiver Process:
- The Company filed a waiver application dated May 20, 2026.
- NSE processed the waiver request and informed the Company on July 8, 2026, that it had been considered favorably.
NSE Notice Details:
- The original notice was issued on May 14, 2026 (Ref. No. NSE/LIST-SOP/FINES/0546).
- It referenced SEBI's Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.
- The notice stated that failure to pay the fine within 15 days could lead to the freezing of the entire shareholding of the Promoters and trading in the company's securities on a 'Trade for Trade' basis.
KMP / Board / Auditor Changes
Not Specified
Dividend Declaration or Non-Declaration
Not Specified
Financial Results (Standalone & Consolidated)
Not Specified
Auditor’s Report
Not Specified
Disinvestment / Strategic Actions
Not Specified
Other Operational / Legal / Strategic Disclosures
Not Specified