PCPervasive Commodities517172Regulatory penalty

BSE approves waiver of fines totalling Rs. 11.07 lakh levied for board composition non-compliance

BSE has approved the company's request to waive fines totalling Rs. 11.07 lakh levied for non-compliance with SEBI LODR rules on Board and Committee composition for the September 2025 and December 2025 quarters.

By ScoutQuest · Wed 28 Oct 2026, 7:55 PM IST · 2 min read

Fines Waived

Rs. 11.07 lakh

Monetary Impact

Nil

Waiver Approval Date

27th October, 2026

What the company told the exchange

• BSE Limited, through a communication dated 27th October, 2026, approved the waiver of fines aggregating to Rs. 11.07 lakh levied on the company.
• The fines related to non-compliance with SEBI (LODR) Regulations on the composition of the Board of Directors and its Committees.
• As a result, the company states it is not required to pay any fine in respect of these matters.

Why the fines were levied

• The company's paid-up equity share capital exceeded Rs. 10 Crore on 20th May, 2025. From that point, Regulations 17, 18 and 19 of the SEBI (LODR) Regulations became applicable to it.
• These regulations deal with board composition and the composition of board committees such as the audit committee and the nomination and remuneration committee.
• The company says it had to comply on or before 19th November, 2025.
• It states that it completed the appointment of the required directors and achieved full compliance on 1st November, 2025, within the prescribed six-month period.

The fines that were waived

• Regulation 17(1): 4,60,000 for the September 2025 quarter and 1,55,000 for the December 2025 quarter.
• Regulation 18(1): 1,84,000 for the September 2025 quarter and 62,000 for the December 2025 quarter.
• Regulation 19(1) and 19(2): 1,84,000 for the September 2025 quarter and 62,000 for the December 2025 quarter.
• Total: 11,07,000.

The company then applied to BSE for a waiver of these fines for both quarters, and the applications were placed before the relevant authority of BSE, which considered and approved them on 27th October, 2026.

What the company says about impact

In the annexure to the update, the company states that because the waiver application has been approved, there is no financial, operational or other impact on its activities, and the monetary impact is Nil. In simple terms, an amount of Rs. 11.07 lakh that had been levied as penalties does not have to be paid by the company.

How to read this

• The update records that penalties had been levied earlier for not meeting board and committee composition requirements, and that those penalties have now been waived by the exchange.
• The company's own description of the sequence is that it came within these rules when its paid-up equity share capital crossed Rs. 10 Crore, and that it completed the required director appointments on 1st November, 2025.
• The approval communication was received from the exchange by email on 27th October, 2026.

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