Show Cause Notice received from BSE on compulsory delisting; company to reply within 15 working days
BSE has issued a Show Cause Notice to the company in the matter of compulsory delisting.
- Trading Suspension Date
- 20-02-2026
- Suspension Duration
- Beyond 6 months
- Representation Deadline
- 15 working days
- Total Fines Outstanding
- Rs. 27,05,740/- (including GST)
- Promoter to Public Holding Ratio
- 19.609 : 80.390 as on 30/06/2026
What happened
BSE issued a Show Cause Notice (SCN) to the company in the matter of compulsory delisting of its securities. The company has formally acknowledged receipt.
Trading in the equity shares has been suspended since 20-02-2026. Because the suspension has continued for more than 6 months, BSE says grounds are made out for delisting under Rule 21 of SCRR read with the SEBI (Delisting of Equity Shares) Regulations, 2021.
Company's response
- Reviewing the observations in the SCN and will submit a detailed representation within the stipulated 15 working days.
- Matter placed before the Board of Directors; steps being initiated to address pending compliances and formalities for revocation of suspension.
Money required for revocation, as listed by BSE
- Processing Fees: Rs. 2,36,000/- (including GST)
- Reinstatement Fees (indicative, may be revised upward): Rs. 5,90,000/- (including GST)
- Annual Listing Fees: Rs. 34,735/- (including GST)
- Fines under the SEBI SOP circular: Rs. 27,05,740/- (including GST)
The fine table shows Total Fine Outstanding of 2293000 plus GST@18% of 412740. The largest single outstanding item is 1320000 for non-submission of Regulation 33 results for Mar-25 (264 days), followed by 330000 (Reg. 34, Mar-25) and 240000 (Reg. 31, Sep-25).
Pending compliance items flagged
- Standalone results for SH-2025 not signed by an authorised director, and not submitted in XBRL mode.
- MC-2026 results: qualification/observations in the auditor report without the statement on impact of audit qualification; XBRL update not in the prescribed format.
- MH-2026 results submitted in XBRL but not in PDF mode.
- Promoter : Public holding shown as 19.609 : 80.390 as on 30/06/2026.
- Listed and issued capital shown as 18864715 shares of face value 10.
Why it matters for shareholders
If compulsory delisting proceeds, Regulation 33 requires promoters to acquire the delisted shares from public shareholders at a value determined by a valuer within three months of delisting, with interest at ten percent per annum if payment is delayed; public shareholders may also choose to retain their shares. Regulation 34 bars the company, its whole-time directors, compliance-responsible persons and promoters from accessing the securities market for ten years from delisting, and freezes promoter holdings and corporate benefits until an exit option is provided.
The company may request a personal hearing before BSE's Delisting Committee in its representation.
Also from Naturo Indiabull
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30 Sep 2026
More numbers
- Processing fees for revocationRs. 2,36,000/- (including GST)
- Reinstatement fees (indicative)Rs. 5,90,000/- (including GST)
- Annual listing feesRs. 34,735/- (including GST)
- Fines under SEBI SOP circularRs. 27,05,740/- (Including GST)
- Total fine outstanding2293000
- GST@18% on fines412740
- Largest outstanding fine (Reg 33, Mar-25)1320000
- Days of delay, Reg 33 Mar-25264
- Time to file representation15 working days
- Promoter holding19.609
- Public holding80.390
- Listed capital (shares)18864715
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