Disclosure with respect to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
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Cella Space Ltd informed the exchange that Mr. Akhilesh Agarwal completed his 5-year term as Independent Director on 11 September 2025 and was re-designated as Non-Executive Non-Independent Director (liable to retire by rotation) from 12 September 2025. Separately, the company disclosed that BSE levied a penalty of Rs. 16,68,947 on 1 December 2025 for non-submission of the auditor's report along with financial statements for FY 2016-17 under Regulation 33 of SEBI LODR. The company has paid the penalty and filed an application seeking a waiver. The company stated there is no material financial or operational impact from the penalty.
The director change is routine as he simply moved from an independent to a non-executive non-independent role after his term ended. The BSE penalty of ~Rs. 16.7 lakh has already been paid, is small relative to typical corporate fines, and the company is seeking a waiver, so the direct financial hit is limited but the old compliance lapse (FY2016-17) is a minor governance red flag.