Bannari Amman Spinning Mills Fined Rs. 68,000 Each by BSE and NSE for Non-Compliance

Bannari Amman Spinning Mills Limited has received communications from the National Stock Exchange of India Limited and BSE Limited for non-compliance and payment of fine under SEBI regulations. The company has been fined Rs. 68,000 each (plus GST @18%) for failing to obtain prior approval of shareholders by Special Resolution in connection with the appointment of Mr Shanmugavelayutham, Non-Executive Independent Director, who has already attained the age of 75 years. The fine was levied on 27th February 2026 and the due date of payment is 15 days from the date of the notice. The company is taking necessary steps for payment of the fine and will appeal for waiver of the same. The matter will be placed before the Board of Directors in the next meeting.