Date: November 12, 2026
Board Meeting Outcomes
The Board of Directors met on November 12, 2026 to discuss notices received from stock exchanges regarding non-compliance with SEBI Listing Regulations.
Regulatory Compliance Disclosure
National Stock Exchange of India Limited and BSE Limited issued notices dated August 25, 2026 to the Company regarding non-compliance with Regulation 17(1) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 for the quarter ended June 30, 2026.
The stock exchanges imposed the following fines under applicable SOP Circular:
- National Stock Exchange of India Limited: ₹4,55,000 for Regulation 17(1) non-compliance
- BSE Limited: ₹4,55,000 for Regulation 17(1) non-compliance
Total fines: ₹9,10,000
Non-Compliance Details
The reduction in Board strength below minimum requirements was primarily due to non-approval of director appointments by shareholders post their appointment by the Board. The Company is required to obtain prior approval from the Ministry of Information and Broadcasting (MIB) for board appointments under Uplinking Guidelines, which adds a regulatory step and extends the timeline.
During the quarter ended June 30, 2026, shareholders approved the appointments of three Independent Directors after obtaining requisite MIB approvals:
- Mr. Arun Kumar Kapoor
- Ms. Heena Naishadh Bhatt
- Mr. Ashok Anant Paranjpe
The current Director strength as of November 12, 2026 is four members.
The Company, its Board, and Management have continuously taken requisite steps to ensure compliance with Regulation 17(1) regarding board composition. Given the broadcasting sector requirements, necessary skill sets, and dual MIB and shareholder approval process, identifying suitable candidates takes time. The Company is continuing this process and will endeavor to maintain compliant board composition and fill future vacancies within prescribed timelines.