Kalyani Steels Fined ₹28.2 Lakhs for Board Composition Non-Compliance

Kalyani Steels Ltd has been fined a total of ₹28.2 Lakhs (₹12.92 Lakhs by NSE and ₹15.28 Lakhs by BSE) for non-compliance with Regulation 17(1) of SEBI Listing Regulations concerning board composition for quarters ending December 31, 2025, March 31, 2026, and June 30, 2026. The company stated it was in the process of identifying suitable candidates and has since appointed two Independent Directors, Mr. Shishir Joshipura and Mrs. Vartika Shukla, effective May 8, 2026, and June 24, 2026, respectively. The fines were paid on August 26, 2026. The financial impact of this violation is currently not ascertainable.