Date: September 24, 2026
Regulatory Disclosure
This disclosure concerns penalties levied by BSE and NSE for non-compliance with SEBI LODR Regulation 17(1A) regarding the appointment of Mr. Kamal Kishore Seth (DIN: 00194986) as an Additional Director (Non-Executive Independent Director) who had attained the age of seventy-five years without obtaining shareholders' approval by special resolution.
Penalty Details
- Q1 FY2025 (June 2024): Penalty of ₹8,000 (excluding GST) each levied by BSE and NSE
- Q2 FY2025 (September 2024): Penalty of ₹1,72,000 (excluding GST) each levied by BSE and NSE
Waiver Application Status
- The Company filed waiver applications with both exchanges seeking waiver of the penalties
- BSE Waiver: Rejected, intimated to stock exchanges on March 13, 2026
- NSE Waiver: Rejected via letter dated September 23, 2026 (received by company)
Payment Status
- Q1 FY2025 penalty of ₹8,000 (excluding GST) each to BSE and NSE has already been paid
- Q2 FY2025 penalty of ₹1,72,000 (excluding GST) to NSE must be paid on or before October 03, 2026
- Company committed to making payment within NSE's stipulated timeline
Historical Context
This disclosure references previous intimations:
- August 22, 2024 (Ref. No. 202/LG/SE/AUG/2024/GBSL)
- November 22, 2024 (Ref. No. 282/LG/SE/NOV/2024/GBSL)