Gland Pharma Pays ₹1.4 Lakh Fine for Listing Regulation Breach

Gland Pharma's Board of Directors has acknowledged and accepted fines totaling ₹1.4 lakh (₹70,000 each from NSE and BSE) for a technical breach of SEBI Listing Regulations concerning the appointment of a Non-Executive Director over 75 years old. The non-compliance period was 34 days, including the postal ballot period. The company had appointed Mr. William Keller as an Independent Director on June 15, 2026, with shareholder approval obtained via postal ballot on July 18, 2026. The Board has instructed management to ensure strict adherence to regulations and strengthen internal processes to prevent recurrence. Gland Pharma has proactively paid the full fine amount despite receiving notices for only a portion.