Corporate Governance3 Jun 2026, 12:23 pm
Reliable Data Services Addresses Board Composition Non-Compliance
AI Summary
Reliable Data Services Ltd's Board of Directors has commented on a past non-compliance with Regulation 17(1) of the Listing Regulations regarding board composition. The delay in appointing an Independent Director was attributed to due diligence issues. The company has since appointed Mrs. Bhoomika Aditya Gupta and paid applicable fines. A waiver application was submitted, and the company reaffirms its commitment to corporate governance and timely regulatory compliance.
Key Highlights
- Board noted non-compliance was not wilful, due to due diligence delays.
- Independent Director appointed Feb 14, 2026, resolving the issue.
- Company submitted waiver application and paid applicable fines.
- Commitment to highest standards of corporate governance reiterated.
- Delay deemed procedural despite bona fide efforts.
Price Impact
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