Announcement under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 - for levy of Fine
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Automobile Products of India Ltd has been informed by BSE Limited of a fine of Rs. 10,62,000 (inclusive of GST) for the quarter ended 31st March 2025. The penalty was levied for non-compliance with Regulation 38 of SEBI Listing Regulations, which mandates a minimum level of public shareholding in listed companies. The company has stated that it is evaluating various options to bring its public shareholding up to the required level at the earliest. The disclosure was made under Regulation 30 of SEBI Listing Regulations on 20th May 2025.
The fine is relatively small and unlikely to materially affect the company's finances. However, the continued non-compliance with minimum public shareholding norms remains a regulatory overhang and could attract further penalties or action if not resolved soon.