Key Quantitative Figures
- Fine Amount: Basic fine of ₹2,000 plus 18% GST (₹360), totaling ₹2,260.
- The fine was prescribed at ₹2,000 per day until compliance was achieved, as per SEBI Master Circular.
Dates of Action
- BSE Email Date: 22nd June 2026
- Board Meeting Date: 22nd July 2026
- Company's initial email to BSE: 30th May 2026
- Payment Deadline: Within 15 days from 22nd June 2026 (by approximately 7th July 2026)
Parties Involved
- Regulator: Bombay Stock Exchange Limited (BSE)
- Listed Entity: Gala Global Products Limited (Scrip Code: 539228)
Purpose and Rationale
The disclosure is made pursuant to SEBI Master Circular No. SEBI 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. The Board reviewed the fine levied for non-compliance with Regulation 24A(2) of the SEBI (LODR) Regulations, 2015, regarding the delayed submission of the secretarial compliance report for the year ended March 31, 2026.
Financial Impact
- The financial impact is quantified: The company paid ₹2,260 (₹2,000 + ₹360 GST) to BSE's designated virtual bank account (ICICI Bank, A/c No. BSER10946, IFSC: ICIC0000104).
Operational Impact and Board Commentary
The Board stated that the delay was "entirely unintentional" and occurred due to "unforeseen technical difficulties beyond control" on BSE's electronic filing portal, despite initiating the process within prescribed timelines. The Board clarified that this issue "does not reflect the company's underlying governance standards" and reaffirmed its "ongoing commitment to maintaining the highest standards of corporate governance and compliance."
Consequences of Non-Payment
BSE's notice explicitly stated that failure to pay the fine within 15 days would lead to "initiating action related to freezing of the entire shareholding of the promoter in this entity as well as all other securities held in the demat account of the promoter."
Status
As per the disclosure, the company has already paid the fine in full.