Garment Mantra Lifestyle: BSE waives ₹12.5 Lakhs fine
Garment Mantra Lifestyle Ltd has announced that its waiver application to BSE Limited for fines totaling ₹12,51,120 (Rupees Twelve Lakhs Fifty-One Thousand One Hundred and Twenty) has been fully accepted. The fines were imposed for late/non-compliance with certain provisions of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, specifically for the quarter ended September 2020. While the waiver for regulations 17(1), 18(1), 19(1)/(2), and 20(2)/(2A) has been granted, the applications for penalties related to Regulation 27(2) (non-submission for September 2020 quarter) and Regulation 31 (late submission for June 2020 quarter) are still under process by BSE Limited. This acceptance signifies a positive resolution for a portion of the company's compliance-related financial penalties.
Key Highlights
- BSE accepts Garment Mantra's waiver application for ₹12.5 Lakhs fine.
- Fines were for non-compliance with SEBI Listing Regulations for Sep 2020.
- Waiver granted for regulations 17(1), 18(1), 19(1)/(2), and 20(2)/(2A).
- Waiver for regulations 27(2) and 31 is still pending BSE processing.
Price Impact
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