Bhandari Hosiery Exports Limited has informed the Exchange regarding 'Addnedum to Outcome of meeting of Board of Directors of Bhandari Hosiery Exports Limited (the Company) - Board comments on fine levied by the Exchange'.
BHANDARI · price
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Awaiting price reaction for this filing.
NSE has imposed a fine of Rs. 5,25,000 (plus 18% GST, totaling Rs. 6,19,500) on Bhandari Hosiery Exports for non-compliance with Regulation 31A(3)(a) of SEBI LODR Regulations, 2015, related to Promoter Reclassification. The company had applied to BSE (its designated stock exchange) within the October 10, 2024 deadline but inadvertently missed submitting the same application to NSE, believing one exchange was sufficient. The Board, meeting on April 30, 2025, stated the lapse was unintentional, as all disclosures were available on the BSE portal, and pledged stricter compliance going forward. The company can also apply for a waiver of the fine via the NEAPS portal within 15 days of the April 17, 2025 notice.
This is a minor regulatory penalty for a procedural lapse (filing Promoter Reclassification with only one of two stock exchanges) and is unlikely to materially affect the stock price. Shareholders should note the fine is about 0.07% of typical small-cap scale, and the company may seek a waiver to reduce or eliminate the penalty.