The non-compliance pertains to the failure to submit the standalone financial results for the quarter ended June 30, 2026, within the prescribed timeline.
Details of Fines Imposed
- Regulation Violated: Regulation 33 (Submission of Financial Results)
- Relevant Quarter: Ended June 30, 2026
- Fine Calculation: ₹5,000 per day of non-compliance.
- Fine Amount (Basic): ₹1,30,000 from each exchange (NSE and BSE), as calculated on September 11, 2026.
- GST @ 18%: ₹23,400 levied by each exchange on the basic fine amount.
- Total Fine Payable per Exchange: ₹1,53,400 (₹1,30,000 + ₹23,400).
- Aggregate Fine Liability: ₹3,06,800 (₹1,53,400 x 2).
- The fine is a recurring penalty and will continue to accumulate every day until the company achieves compliance or until its securities are suspended from trading.
Notices Received
- NSE Notice: Dated September 11, 2026, with reference number NSE/LIST-SOP/FINES/1028.
- BSE Notice: Dated September 11, 2026, with reference to SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026.
Required Actions and Deadlines
1. Payment Deadline: The company is required to remit the total fine amount (inclusive of GST) to each exchange within 15 days from the date of the notices (i.e., by September 26, 2026).
2. Board Disclosure: The subject matter of this non-compliance and the subsequent action by the exchanges must be placed before the company's Board of Directors in its next meeting. The comments made by the Board must be informed to the exchanges for dissemination to the public.
3. Waiver Process: The company may apply for a waiver of the fines through the designated online path on the NSE portal (NEAPS > Compliance > Fine Waiver > Waiver Request). A non-refundable processing fee of ₹10,000 plus 18% GST is required if the fine amount exceeds ₹1,000. Compliance with the regulation is a prerequisite for a waiver application to be processed.
Consequences of Non-Payment / Further Non-Compliance
- Freezing of Promoter Holdings: Failure to pay the fines may lead the exchanges to initiate action to freeze the entire shareholding of the promoter(s) of the company and all other securities held in their demat accounts.
- Transfer to Z Group & Suspension: If this constitutes the second consecutive year of non-compliance with Regulation 33, the company's equity shares will be transferred to the 'Z' group and become liable for suspension of trading.
Banking Details for Payment
- For NSE Payment:
- Beneficiary: National Stock Exchange of India Limited
- Bank: IDBI BANK LTD, Bandra Kurla Complex, Mumbai
- IFSC Code: IBKL0001000
- For BSE Payment:
- Beneficiary: BSE Limited
- Bank: ICICI Bank Ltd. - CMS Branch
- Virtual Account No.: BSER03038 (for SOP fines only)
- IFSC Code: ICIC0000104
The disclosure was signed by Ritu Bhatia, Company Secretary & Compliance Officer, on September 15, 2026.