Board Meeting and Consideration
The matter relating to the non-compliance and the fine levied by the exchanges was placed before the Board of Directors at its meeting held on Thursday, 10th September 2026 for consideration and comments.
Board's Comments and Rationale
The Board noted that the non-compliance occurred due to a bona fide interpretational difference regarding the applicability of the relevant provision, rather than any willful or process-related default. The proposal for the director appointment was already placed in the Annual General Meeting held on 17th August 2026 and was approved by shareholders via special resolution, thereby fulfilling the compliance requirement.
Corrective Actions
The Board has directed management to ensure adherence to all applicable governance requirements and to further strengthen relevant systems and processes to prevent recurrence of such non-compliance in the future.
Submission Details
The company submitted these Board comments to both BSE Limited (Scrip Code: 543427) and National Stock Exchange of India Limited (Symbol: MEDPLUS) for their records. The submission was signed by Shrenik Soni, Company Secretary & Compliance Officer (M. No. F12400) on September 10, 2026.