Date: August 13, 2026
Board Meeting Outcomes
- The Board of Directors meeting was held on August 13, 2026 to discuss fines levied by stock exchanges
- Board took note of the matter regarding non-compliance/delayed compliance with Regulation 23(9) of SEBI (LODR) Regulations, 2015
- The non-compliance related to requirements to disclose related party transactions in the specified format and within prescribed timeline for the quarter and financial year ended March 31, 2026
- Board recognized that the non-compliance was due to technical difficulties faced while validating the XBRL file and was not intentional
- Board advised the company to henceforth ensure compliance requirements are followed minutely
Financial Impact
- Company has remitted the fines to both Stock Exchanges (NSE and BSE), including applicable GST, within the stipulated timeline
- Payment was made on July 10, 2026, well within the period prescribed in the communications from the exchanges
Compliance and Process Improvements
- Company states it has always endeavored to comply with applicable regulations in true letter and spirit
- Company has already undertaken necessary steps to strengthen its processes to avoid such inadvertent delays in future