Gala Global Products Limited disclosed a regulatory compliance event concerning a fine levied by the Bombay Stock Exchange (BSE).
The company received an email from BSE dated August 25, 2026, regarding a delay in compliance. This matter was placed before the company's Board of Directors at its meeting held on September 12, 2026.
The Board reviewed the issue, which pertained to a delayed submission of the corporate governance compliance report for the quarter ended June 30, 2026. The delay was a violation of Regulation 27(2) of the SEBI Listing Obligations and Disclosure Requirements (LODR) Regulations, 2015.
The Board noted that the one-day delay was unintentional and occurred due to a delay in receiving the relevant data, which prevented timely compliance. The Board clarified the issue was due to administrative and procedural reasons, not wilful default.
The company has paid the total fine of ₹2,360, which comprises a base fine of ₹2,000 plus 18% GST (₹360), as levied by BSE.
The fine was imposed under the SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026, issued on July 11, 2023, and last updated on January 30, 2026 (Chapter VII (A)-Penal Action for Non-Compliance).
BSE's original notice stipulated that the fine must be paid within 15 days of the letter (by approximately September 9, 2026). Failure to pay would result in the Exchange initiating action to freeze the entire shareholding of the promoter(s) in the company.
The notice further stated that a second consecutive quarter of non-compliance with regulations like 17(1), 18(1), or 27(2) would result in the company being transferred to the Z-group and becoming liable for suspension of trading of its equity shares.
BSE also instructed the company to place the matter of non-compliance and any subsequent Exchange action before its Board of Directors. The Board's comments were to be informed to the Exchange for dissemination, which this disclosure fulfills.
The notice included remittance instructions, specifying a virtual bank account (BSER10946 at ICICI Bank Ltd. - CMS Branch, IFSC: ICIC0000104) dedicated solely for SOP fines/penalties.
The disclosure was signed by Vishal Mulchandbhai Gala, Director (DIN: 00692090), on September 15, 2026.