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Awaiting price reaction for this filing.
Banganga Paper Industries Limited has disclosed receiving an administrative warning letter from SEBI dated June 19, 2025. The warning relates to a procedural lapse during the company's name change (from Inertia Steel Limited to Banganga Paper Industries Limited), where it failed to include a practicing chartered accountant's certificate confirming compliance with Regulation 45(1) in the explanatory statement sent to shareholders for approval. SEBI's Corporation Finance Department issued the warning after BSE flagged the non-compliance while processing the name change application. The company has been advised to be careful and avoid such lapses in future, with SEBI cautioning that any repeat violation could lead to enforcement action under the SEBI Act, 1992.
This is a mild administrative warning with no monetary penalty or trading restrictions, so the immediate impact on shareholders is limited. However, it highlights governance and compliance weaknesses in the company's disclosure process, which investors should monitor for any escalation.