Sampann Utpadan India Ltd Faces Penalty from NSE for Non-Compliance

Sampann Utpadan India Ltd has been imposed a penalty by the National Stock Exchange (NSE) for non-compliance with listing approval conditions. The company issued equity shares under a preferential issue within 7 working days from the date of grant of Listing approval by the Exchange. The fine calculated for the aforesaid non-compliance is Rs. 4,20,000 + 18% GST. The company argues that the delay in filing the application for trading approval was purely procedural and administrative, and occurred due to circumstances beyond their control. They also assert that the interests of investors have not been adversely affected by the delay.