Key Quantitative Figures & Fines

The company was fined by both exchanges for a 5-day delay in submitting its financial results.

  • NSE Fine: A base fine of ₹25,000 was levied for 5 days of non-compliance at ₹5,000 per day. With an 18% GST of ₹4,500, the total fine payable to NSE was ₹29,500.
  • BSE Fine: The BSE notice also referenced fines as per the SEBI Master Circular, though the specific amount from BSE is not quantified in the provided text. The company states it has paid the "applicable fines levied by both the Stock Exchanges."

Dates of Action

  • Scheduled Board Meeting: May 30, 2026 (failed due to lack of quorum).
  • Reconvened Board Meeting: June 6, 2026 (financial results were approved).
  • Result Submission Date: The approved results were submitted to the exchanges on June 6, 2026.
  • Board Review Meeting: August 14, 2026, at 1:00 P.M. (the board noted the fines and provided comments).
  • Notice Dates: Both BSE and NSE issued their fine notices on June 30, 2026.
  • Disclosure Date: This official response was signed and dated August 14, 2026.

Parties Involved

  • Regulated Entity: Udayshivakumar Infra Limited.
  • Regulators: BSE Limited and National Stock Exchange of India Limited.
  • Company Representatives: Sneha Sawant, Company Secretary (signed the letter).
  • Exchange Officials: The NSE notice was signed by Sonam Yadav, Manager. The BSE notice listed Harshad Naik and Reena Raphel, Managers from Listing Compliance.

Purpose & Stated Rationale

The primary purpose of the document is to comply with the exchanges' requirement to place the matter of non-compliance before the Board of Directors and to report the Board's comments back to the exchanges.

The stated rationale for the delay was a lack of requisite quorum at the Board Meeting originally scheduled for May 30, 2026, to approve the financial results. This necessitated an adjournment and reconvening of the meeting on June 6, 2026.

Financial & Operational Impact

  • Confirmed Financial Impact: The company has incurred a direct cash outflow of at least ₹29,500 to NSE and an unquantified amount to BSE to pay the fines.
  • Contingent Exposure: The NSE notice stated that if the company was still non-compliant as of the notice date (June 30, 2026), the fine amount would continue to increase daily until compliance was achieved. Since the results were submitted on June 6, this contingent exposure was likely avoided.
  • The BSE notice warned that a second consecutive year of non-compliance with Regulation 33 would result in the company's equity shares being transferred to the Z group.

Capital Structure & Governance Impact

There is no direct impact on capital structure disclosed. The governance impact is the board's commitment to exercise greater diligence to ensure requisite quorum is present at all future board meetings to facilitate timely approvals. Directors are to make reasonable efforts to ensure their availability.

Forward-Looking Commentary

The Board of Directors provided assurance that "due care and diligence would be exercised to ensure the presence of the requisite number of Directors at all future Board Meetings" and that "all reasonable efforts" would be made "to avoid recurrence of such an instance in the future."

#Tags: #UdayshivakumarInfra #Regulation33 #SEBIDisclosure #RegulatoryCompliance #FinancialUpdate #Neutral