Key Quantitative Figures
- Fine amount: ₹96,760 per exchange (total ₹193,520 across both exchanges)
- Compliance delay: 41 days
- Shareholder approval date: May 12, 2026
- Fine payment date: August 27, 2026
Parties Involved
- BSE Limited
- National Stock Exchange of India Limited
- Mr. S.B. Mathur (Non-Executive Director)
- Board of Directors of DCMSIL
- Ashish Jha, Company Secretary & Compliance Officer (FCS:11326)
Dates of Action
- August 25, 2026: Exchange notices received
- August 27, 2026: Fines paid to both exchanges
- September 12, 2026: Board meeting held to discuss the matter
- May 12, 2026: Shareholder approval obtained via special resolution
Purpose/Rationale
The fines were levied due to delayed compliance with Regulation 17(1A) of SEBI (LODR) Regulations, 2015, specifically regarding the requirement for prior shareholder approval for the appointment of Mr. S.B. Mathur as a Non-Executive Director for the quarter ended June 30, 2026.
Financial Impact
- Total financial outflow: ₹193,520 (₹96,760 paid to each exchange)
- The fines have been fully paid as of August 27, 2026
- No additional financial impact disclosed
Resolution Status
The Board confirmed that following the payment of fines, the non-compliance matter regarding Regulation 17(1A) for the June 2026 quarter is resolved and closed. The matter now stands concluded.
Governance Impact
The disclosure highlights a procedural lapse in obtaining timely shareholder approval for director appointment, though the approval was ultimately obtained retroactively.