Date: August 26, 2026
Regulation, Compliance & Legal Disclosures
Nature of Action
The company received communications via emails dated August 25, 2026, from BSE Limited and National Stock Exchange of India Limited imposing fines for non-compliance/delayed compliance with Regulations 17(1) and 17(1A) of the SEBI (LODR) Regulations for the quarter ended June 30, 2026.
Details of Fines Imposed
- Fine under Regulation 17(1): ₹1,65,200 (Basic fine: ₹1,40,000 + 18% GST: ₹25,200) levied by BSE and NSE separately
- Fine under Regulation 17(1A): ₹1,36,880 (Basic fine: ₹1,16,000 + 18% GST: ₹20,880) levied by BSE and NSE separately
- Total fine (including 18% GST): ₹3,02,080 by BSE and ₹3,02,080 by NSE separately
Nature of Violations
Non-compliance/delayed compliance with Regulations 17(1) and 17(1A) of the SEBI (LODR) Regulations pertaining to:
- Composition of the Board
- Appointment/continuation of non-executive Director who has attained the age of 75 years
Company's Response and Current Status
- The underlying compliance under Regulation 17(1A) was rectified and complied with on May 29, 2026
- The underlying compliance with respect to Board composition under Regulation 17(1) was made good on July 15, 2026 with the induction of a new Independent Director
- The company confirms that as of the date of this disclosure, it is fully compliant with the applicable provisions of Regulation 17(1) and 17(1A)
- The fines have been duly paid
Financial Impact Assessment
The company states there is no material impact on the financial, operational or other activities of the Company, except for the payment of the fine amounts.