Key Development: Penalty Withdrawal
The company informs of a key development regarding a penalty of ₹1,50,000 (Rupees One Lakh Fifty Thousand) that was previously intimated to the exchange on June 11, 2025. The National Stock Exchange of India Limited (NSE) has withdrawn this penalty.
Reason for Withdrawal
The withdrawal is a result of a directive from SEBI. SEBI has advised that for common Trading Members registered with more than one exchange, any disciplinary action or penalty is to be levied only by their 'Allocated Exchange'.
Company Reallocation
Pursuant to this SEBI advice, Wallfort Financial Services Limited has been allocated to another exchange for the purpose of initiating disciplinary actions or levying penalties concerning the specific non-compliances. The disclosure specifies that the company has been allocated to BSE for this purpose.
Specific Non-Compliance
The original penalty was levied by NSE on account of the alleged non-closure of open observations in the Action Taken Report (ATR) submitted against the Vulnerability Assessment and Penetration Testing (VAPT) Report for the financial year 2024-25. The penalty was imposed via NSE Circular Ref. No. NSE/INSP/63908 dated September 12, 2024.
Outcome
Consequently, NSE has withdrawn the penalty of ₹1,50,000 that was levied via its email dated June 11, 2025.
Supersession
This intimation supersedes the company's earlier communication dated June 11, 2025, but only to the extent of the penalty amount stated therein.
Financial Impact
The direct financial impact of this withdrawal is the avoidance of a ₹1,50,000 outflow. The liability for any potential future penalty concerning the VAPT ATR non-compliances for FY 2024-25 now rests with the allocated exchange, BSE.