Ambika Cotton Mills Limited has informed the Exchange about Interpretation of Regulation 17 (1)(b) and 17(1A) of SEBI (LODR) Regulations, 2015 Levy of Fine by NSE & BSE Application for waiver Rejected by NSE vide Order Ref. No. NSE/LIST/SOP/0993 dt. 12.09.2025 Company deposited fine amount To file appeal before SAT Filing of Intimation under Regulation 30 - Reg
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NSE and BSE levied a fine on Ambika Cotton Mills for not meeting the board composition requirements under Regulation 17(1)(b) and 17(1A) of SEBI's Listing Obligations and Disclosure Requirements (LODR) Regulations, 2015. The company applied to NSE for a waiver, but the exchange rejected the application on 12 September 2025. The company has since deposited (paid) the fine amount with the exchanges but is now planning to file an appeal before the Securities Appellate Tribunal (SAT) to challenge the penalty. This is a compliance-related disclosure under Regulation 30 of the LODR rules.
This is a minor governance/compliance issue involving a fine for board composition norms — the financial impact (fine amount) is typically small for such violations, but it flags a corporate governance lapse. Shareholders may want clarity on board independence and the status of the SAT appeal, as prolonged governance issues can affect investor confidence.