Date: November 13, 2026

Regulatory Action Details

Authority: National Stock Exchange of India Limited (NSE) and BSE Limited

Nature of Action: Fine of Rs. 11,800/- each including GST imposed by both NSE and BSE

Date of Receipt: August 14, 2026

Violation Details: Non-compliance with provisions of Regulation 29(2)/29(3) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, specifically a 1-day delay in furnishing prior intimation about the meeting of the board of directors for the quarter ended June 30, 2026

Financial Impact: None - no material impact on financials, operations or other activities of the Company

Board Deliberations and Response

The Board noted that the Company was required to give prior intimation to Stock Exchanges at least two working days in advance of the Board meeting under Regulation 29(2) read with Regulation 29(3) of SEBI LODR Regulations.

The Board was apprised that during the relevant period, the Company's external credit rating was under review. To expedite the finalization and declaration of financial results, the Company intended to convene the Board meeting at the earliest possible date, resulting in an inadvertent shortfall of one day in the prescribed timeline for prior intimation submission.

The Board determined that the delay was:

  • Purely unintentional and procedural in nature
  • Without any mala fide intention
  • Not a deliberate attempt to withhold information from Stock Exchanges or investors

The Company regrets the procedural lapse and acknowledges the importance of strict adherence to regulatory timelines.

Compliance Status and Measures

  • The Company has received communications from both Stock Exchanges regarding the non-compliance
  • All applicable fines have been duly paid
  • The Company has strengthened its internal compliance and review mechanisms to ensure timely submission of prior intimations under Regulation 29 of SEBI LODR Regulations
  • The Board directed management to exercise utmost diligence in ensuring timely and complete compliance with all applicable provisions of SEBI LODR Regulations and other relevant laws
  • The Board reaffirmed its commitment to maintaining the highest standards of corporate governance, transparency, and regulatory compliance