S&S Power Switchgear fined \u20b96.56 L by BSE & NSE for non-compliance
S&S Power Switchgear Ltd has been levied a penalty of \u20b93,28,040 each by BSE Limited and NSE Limited, totaling \u20b96,56,080. The penalties were imposed due to non-compliance with Regulation 19(1) and (2) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, concerning the composition of the Nomination and Remuneration Committee. The company's waiver application to BSE was rejected on April 8, 2026, and the fines were subsequently paid to BSE on April 9, 2026, and to NSE on April 10, 2026. S&S Power Switchgear confirmed that its Nomination and Remuneration Committee is now compliant with the regulations and that the penalties will have no material impact on its financial, operational, or other activities.
Key Highlights
- S&S Power Switchgear incurred penalties from BSE and NSE.
- Total fine of \u20b96,56,080 for non-compliance with committee composition.
- Waiver application rejected; company has paid the fines.
- Company confirms current compliance with regulatory requirements.
- No material financial or operational impact is anticipated.