Company comments on ₹4.48L fine from BSE/NSE for board non-compliance

The company has addressed the fine of ₹4,48,400 each levied by BSE and NSE on February 27, 2026, for non-compliance with Regulation 17(1) of the Listing Regulations, specifically regarding the composition of the Board of Directors and failure to appoint a woman director. The Board noted the non-compliance in its meeting on May 28, 2026. The company had already appointed Ms. Karishma Kaur Gill as an Additional Independent Non-executive Woman Director on December 16, 2025, and shareholders approved her appointment via postal ballot on February 07, 2026. The company currently has an optimum board mix, including three independent directors (one woman director) out of six members. The Board stated the non-compliance was unintentional due to the time-consuming process of finding a suitable candidate and assured steps are being taken to prevent future delays.