NSE rejects waiver plea, directs payment of Rs. 1,67,560 fine for past listing non-compliance
NSE has rejected the company's application seeking waiver of fines for non-compliance with Regulation 17(1A) of the Listing Regulations.
By ScoutQuest · · 2 min read
- Fine imposed
- Rs. 1,42,000 plus 18% GST, totalling Rs. 1,67,560
- Non-compliance quarters
- quarters ended 30th June, 2024 and 30th September, 2024
- Regulation involved
- Regulation 17(1A) of the Listing Regulations
What the company told the exchanges
The company informed the exchanges that it received a communication from NSE on October 19, 2026, rejecting its application for waiver of fines. The fines relate to non-compliance with Regulation 17(1A) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, during the quarters ended 30th June, 2024 and 30th September, 2024.
How the decision came about
- BSE Limited is the designated exchange for processing the company's waiver application.
- BSE did not consider the waiver application favourably.
- NSE noted that decision and rejected the waiver of the fine sought by the company.
What Regulation 17(1A) deals with
Regulation 17(1A) of the Listing Regulations sets a condition for a listed company appointing a person as a director who has already attained the age of 75 years. Such an appointment needs the approval of shareholders through a special resolution. The update records the non-compliance under this regulation for the two quarters mentioned above.
The money involved
The company has been directed to pay a fine of Rs. 1,42,000 plus 18% GST, amounting to Rs. 1,67,560.
The fine is to be deposited with NSE.
The GST component works out to the difference between the base fine and the total amount stated in the update.
Impact on the company
In the annexure, the company states that other than the monetary impact of this one-time payment, there is no impact on the financial, operational or other activities of the company.
What a reader can take away
- This is a penalty for a procedural lapse relating to board composition, not a penalty on the company's business operations.
- The amount is a fixed, stated sum: Rs. 1,42,000 plus GST, totalling Rs. 1,67,560.
- The company's own assessment is that the impact is limited to this one-time payment.
- The communication from NSE is dated October 19, 2026, and the company's intimation is dated October 20, 2026.
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More numbers
- Fine directed to be paid (excluding GST)Rs. 1,42,000
- GST rate on the fine18%
- Total amount payable including GSTRs. 1,67,560
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