Bimetal Bearings Fined ₹64,900 by BSE for Compliance Lapses
Bimetal Bearings Ltd has been fined ₹64,900 by BSE Limited for non-compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, specifically regarding Regulation 6(1) (appointment of qualified company secretary as compliance officer) and Regulation 13(3) (submission of shareholder complaints statement), and Regulation 76 of SEBI (Depositories & Participants) Regulation 2018 (Reconciliation of share capital audit report). The company acknowledges the non-compliance, has undertaken corrective measures, and plans to submit a waiver application to BSE. The fine includes ₹55,000 in basic fines and ₹9,900 in GST. The company assures commitment to corporate governance and timely compliance.
Key Highlights
- Bimetal Bearings fined ₹64,900 by BSE for regulatory non-compliance.
- Lapses include failure to appoint qualified compliance officer and timely complaint statements.
- Company has taken corrective actions and will apply for a waiver.
- Fine comprises ₹55,000 basic penalty and ₹9,900 GST.
- Bimetal Bearings reaffirms commitment to corporate governance standards.
Price Impact
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