Binny Ltd Responds to SEBI Warning Letter on Director Resignations

Binny Ltd has submitted a reply to a SEBI administrative warning letter dated September 10, 2026, concerning delayed stock exchange disclosures about director resignations. The company explained that a SEBI order on July 31, 2024, led to the resignation of key management personnel and directors. This resulted in a board composition below the minimum requirement, necessitating court intervention. The Hon'ble High Court of Madras appointed an administrator who facilitated the reconstitution of the board in January 2025. Binny Ltd stated that the interim period experienced a "complete vacuum" preventing timely compliance. The newly formed board has addressed non-compliance issues and assured SEBI of corrective measures to prevent future recurrences. The company also noted that the matter was previously examined by SEBI's CFID in October 2025.