Foundation Membership Details

  • Entity: Leelaben Foundation (proposed company limited by guarantee, yet to be incorporated)
  • Incorporation: India (date not yet determined)
  • Industry: Non-profit Organisation
  • Objectives: Promotion of commerce, art, science, sports, education, research, social welfare, religion, charity, environmental protection. Specific dental-related objectives include:
  • Establishment of Rural Dental Facilities
  • Subsidized and Free Dental Treatment
  • Utilization of Corporate Social Responsibility (CSR) Channels
  • Receipt of Corporate Social Responsibility (CSR) Contributions
  • Awareness and Preventive Care
  • Regulatory Approvals: Only standard incorporations approvals under Companies Act, 2013 required
  • Consideration: Limited by Guarantee (not cash or share swap)
  • Cost: Laxmi Dental will contribute up to ₹1,000 towards liabilities in event of winding up during membership period or within one year after cessation
  • Shareholding/Control: 10% of amount of guarantee

Fine and Compliance Details

  • Notices Received: September 15, 2026 from both NSE and BSE
  • Regulation Violated: Regulation 29(2)/29(3) of SEBI Listing Regulations
  • Period: Quarter ended June 30, 2026 (specifically for August 31, 2026 month-end)
  • Fine Amount: ₹10,000 base fine + ₹1,800 GST = ₹11,800 total
  • Reason for Delay: Inadvertent procedural oversight while computing applicable timeline, considering intervening weekend on August 8 and August 9, 2026
  • Payment Status: Fine already paid within prescribed timeline
  • Waiver Conditions: Compliance is prerequisite for waiver application; ₹10,000 + 18% GST non-refundable processing fee if fine exceeds ₹5,000
  • Consequences for Non-payment: Potential freezing of entire promoter shareholding in company and other securities in promoter demat accounts

Board Meeting Details

  • Date: October 08, 2026
  • Time: 4:15 PM to 5:00 PM IST
  • Agenda Items:
  • Approved membership in Leelaben Foundation
  • Noted fines levied by exchanges for delayed Regulation 29 compliance
  • Noted reason for delay as procedural oversight
  • Directed Company Secretary and Compliance Officer to exercise due diligence and ensure timely future compliance
  • Noted that fine had been paid within prescribed timeline