Date: 14.08.2026
Board Meeting Outcomes
- The Board of Directors discussed two notices from the National Stock Exchange of India Limited regarding imposition of fines
- Notices referenced: NSE/LIST-SOP/FINES/0678 dated June 15, 2026 and NSE/LIST-SOP/FINES/0693 dated June 22, 2026
- Fines were imposed for non-compliance under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 for period ended March 31, 2026
- Specific regulations cited: Regulation 29(2)/29(3) and Regulation 24A
Regulatory Compliance Issues
Regulation 29(2)/29(3) Non-Compliance:
- Company failed to consider that May 28, 2026 was a non-trading day on account of Bakri Eid
- Company operated under bona fide belief that notice requirements had been duly complied with
- Any shortfall in notice period was purely inadvertent and unintentional
- Fine amount: ₹11,800
Regulation 24A Non-Compliance:
- Company submitted required report with delay
- Delay caused by Secretarial Auditor being out of station due to medical emergency
- Fine amount: ₹2,360
Actions Taken
- Company has submitted clarifications to the Exchange regarding both compliance issues
- Company has paid both fines totaling ₹14,160 within prescribed timeline
- Board has advised management to implement appropriate measures to strengthen internal compliance mechanisms
- Board committed to preventing recurrence and ensuring strict adherence to regulatory requirements