Nature of the Disclosure

This is a regulatory disclosure filed pursuant to SEBI Listing Obligations and Disclosure Requirements (LODR) Regulations, 2015, specifically Regulation 30 and the relevant sub-para of Schedule III. It concerns disciplinary action taken by the stock exchanges.

Key Quantitative Figures and Orders

  • BSE Fine: Imposed a fine of ₹1,35,700 (Rupees One Lakh Thirty-Five Thousand Seven Hundred only).
  • NSE Fine: Imposed a fine of ₹1,35,700 (Rupees One Lakh Thirty-Five Thousand Seven Hundred only).
  • Total Financial Impact: The aggregate fine amount is ₹2,71,400.

Dates of Action

  • Date of Exchange Communications: Both BSE and NSE issued their imposition orders via email on 27th May, 2026.
  • Date of Company Disclosure: Viji Finance Limited filed this disclosure with the exchanges on 28th May, 2026.

Parties Involved

  • Regulated Entity: Viji Finance Limited
  • Regulatory Authorities: BSE Limited (BSE) and National Stock Exchange of India Limited (NSE)

Details of the Alleged Violation

The fines were levied for alleged non-compliance with Regulation 17(1) of the SEBI (LODR) Regulations, 2015. This regulation mandates that the Board of Directors of the top 2000 listed entities must comprise not less than six directors. The alleged non-compliance relates to the board composition for the period ended March 31, 2026.

Company's Stance and Rationale

The company contests the fines and the applicability of the regulation. Its key arguments are:

  • It asserts that it does not fall under the category of top 2000 listed entities and therefore, the provisions of Regulations 15, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, and 27 are not applicable to it.
  • It had previously submitted detailed clarifications and responses to NSE on 9th May 2026, 22nd May 2026, and 26th May 2026 explaining this position.
  • It states that BSE imposed the fine without providing an adequate opportunity of being heard.
  • Despite these submissions, both exchanges proceeded with the imposition of the fine.

Financial and Operational Impact

As per the disclosure, there is no material impact on the financial, operational, or other activities of the company, except to the extent of the fine amount imposed (₹2,71,400).

Current Status and Forward Action

The company is in the process of submitting an appropriate response and representation to both stock exchanges regarding the imposition of these fines.