BF Investment Limited has informed the Exchange about intimation of fine paid.
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BF Investment Limited has paid a fine of Rs. 2,71,400 each (inclusive of GST) to both NSE and BSE, totalling approximately Rs. 5.43 lakhs, for failing to comply with Regulation 17(1) of the SEBI Listing Regulations. The non-compliance relates to the composition of the Board, specifically the absence of an independent woman director following the resignation of the previous incumbent. The company has stated that the vacancy arose due to the resignation of the Independent Woman Director and it is currently in the process of identifying a suitable candidate to fill the position. The company clarified that there is no material impact on its financials, operations, or other activities due to this matter.
The fine amount is relatively small and not material to the company's financials. However, persistent non-compliance with board composition norms could attract additional regulatory scrutiny and ongoing penalties until the vacancy is filled, which is a minor governance concern for shareholders.