Nature of the Disclosure

This is a regulatory disclosure made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023. The company is informing the exchanges about the receipt of notices imposing fines from BSE Limited and National Stock Exchange of India Limited.

Key Quantitative Figures and Actions

The company has received notices dated May 27, 2026, from both BSE and NSE. Each exchange has imposed a fine of ₹68,440 (Rupees Sixty-Eight Thousand Four Hundred and Forty only), which includes a base fine of ₹58,000 plus applicable GST at 18% (₹10,440). The total aggregate fine imposed by both exchanges is ₹1,36,880.

Details of the Violation

The fine is for a technical non-compliance with Regulation 17(1A) of the SEBI Listing Regulations for the quarter ended March 31, 2026. The specific violation is the delay in obtaining prior shareholders' approval for the appointment/continuation of Mr. Sunil Behari Mathur, a Non-Executive Director, who has attained the age of 75 years.

Stated Rationale and Corrective Actions

The company clarifies that the delay was an "unintended omission" caused by time constraints in implementing a Scheme of Arrangement and complying with listing requirements. The company has already initiated the process for obtaining shareholders' approval through a Postal Ballot. This process is scheduled to be completed within the prescribed period of three months from the date of Mr. Mathur's appointment. The Special Resolution along with the Explanatory Statement will be submitted immediately upon the conclusion of the Postal Ballot process and the declaration of voting results, which is scheduled for Friday, May 29, 2026.

Financial and Operational Impact

As per the disclosure, there is no material impact on the financial, operational, or other activities of the company, except to the extent of the fine imposed (i.e., ₹68,440 by each exchange). The company states it has already taken corrective actions.