Asahi India Glass Limited has informed the Exchange regarding 'Comments of the Board of Directors for the fine levied for non-compliance underRegulation 29(1) of the SEBI (Listing Obligations and Disclosure Requirements)Regulations, 2015'.
ASAHIINDIA · price
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Asahi India Glass Limited informed the exchanges about its Board's response to a fine imposed by BSE and NSE for non-compliance with Regulation 29(1) of SEBI's Listing Regulations. The exchanges levied a fine of Rs. 11,800 each (inclusive of GST) for a one-day delay in giving prior intimation of the Board's proposed approval of dividend. The Board noted that the delay was inadvertent and unintentional, and that the company has always maintained high standards of corporate governance. The fine has already been paid within the required timeline. This is a routine, minor compliance matter with negligible financial impact.
This is a very small regulatory fine (under Rs. 25,000 in total) already paid, with no material financial impact on shareholders. The disclosure is procedural and unlikely to affect the stock price, though it shows the company experienced a minor lapse in timely disclosure compliance.