Karma Energy Fined Rs.580560 by BSE for Non-Compliance with Regulation 17 & 20 of SEBI LODR

Karma Energy Ltd. has received a communication from BSE Limited imposing a fine of Rs.580560 (including GST) for non-compliance with Regulation 17 and 20 of SEBI LODR. The non-compliance pertains to delay in compliance with requirements pertaining to the composition of the Board and failure to properly constitute or maintain the Stakeholders Relationship Committee (SRC). The Company is in the process of paying the fine or filing an appeal for waiver. The impact of this fine is limited to the mentioned amount and there is no impact on the operations of the Company.