Key Quantitative Figures
BSE levied a fine of ₹1,22,720 on the company.
Dates of Action
- Notice from BSE issued: October 30, 2026.
- Company's response letter dated: November 07, 2026.
- Board meeting where the matter was discussed: Held prior to November 07, 2026 (exact date not specified).
Parties Involved
- Issuing Authority: Bombay Stock Exchange (BSE).
- Recipient Company: Patel Chem Specialities Limited.
Purpose or Rationale
The delay in compliance was stated to be inadvertent and not intentional. The company immediately took corrective steps upon receipt of the notice to ensure compliance.
Financial Impact
A confirmed financial liability of ₹1,22,720 has been imposed by BSE. The board has decided to apply for a waiver of this fine.
Board Decision & Management Commentary
The Board of Directors noted the non-compliance and the fine. It decided to apply to BSE for a waiver of the fine, citing that the requisite compliance was completed and the error was inadvertent. The board expressed concern over the lapse and advised management to strengthen the internal compliance monitoring mechanism to ensure timely filing of all statutory and regulatory compliances and prevent recurrence.