Key Quantitative Figures

  • Fine amount: ₹1,55,000/- (plus applicable GST)
  • Date of receipt of order: 27th May, 2026

Authority and Regulatory References

  • Authority: BSE Limited
  • Regulatory basis: SEBI Standard Operating Procedure for non-compliance with the Listing Regulations (SEBI Circular dated 22 January 2020, as amended, read with the SEBI Master Circular dated 11 November 2024)
  • Specific regulation violated: Regulation 17(1) of the SEBI LODR Regulations

Details of Violation

The non-compliance pertains to Regulation 17(1) of the Listing Regulations, which requires the Board of Directors of the Company to comprise not less than fifty percent (50%) Independent Directors. The requirement to appoint an additional Independent Director arose as a consequence of the appointment of an additional Non-Executive Director on the Board, which increased the Board strength and reduced the proportion of Independent Directors below the prescribed threshold. The non-compliance was therefore a consequential requirement arising from a change in the Board composition, and not on account of any resignation or removal of an Independent Director.

Financial Impact

The financial impact is limited to the fine amount of ₹1,55,000/- (plus applicable GST), payable to BSE Limited. There is no impact on the operations, business or financial position of the Company. The non-compliance was administrative in nature.

Remedial Action Taken

Immediately upon identification of the requirement, the Nomination and Remuneration Committee and the Board initiated the process of identifying and evaluating suitable candidates. After due diligence and evaluation, the Board has approved the appointment of Mr. Sai Manik Sud as an Independent Director of the Company with effect from 26 May 2026, thereby restoring full compliance with Regulation 17 of the Listing Regulations. A separate disclosure under Listing Regulations has been made in respect of the said appointment.

Additional Information

This disclosure is being uploaded on the Company's website at https://gttdata.ai/ in accordance with Regulation 46(3) of the Listing Regulations.