Diligent Media Corporation Limited has informed the Exchange regarding 'Comments of the Board of Directors on Stock Exchanges Notices dated May 29, 2025 withrespect to Non-Compliance of Regulation 27(2) of SEBI (Listing Obligations and DisclosureRequirements) Regulations, 2015 for the Quarter ended March 31, 2025'.
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Awaiting price reaction for this filing.
Diligent Media Corporation submitted its Corporate Governance Report for the quarter ended March 31, 2025, one day late. Both BSE and NSE issued notices on May 29, 2025, and imposed a fine of Rs. 2,000 per day (excluding taxes) for non-compliance with Regulation 27(2) of SEBI's Listing Regulations. The Board, at its June 24, 2025 meeting, stated that the delay was due to unforeseen technical issues and was neither intentional nor wilful. The company has characterised the lapse as purely technical with no malafide intent.
The penalty is negligible in monetary terms (Rs. 2,000 per day) and unlikely to affect the stock price. However, the episode highlights a minor compliance lapse in corporate governance disclosures, which retail investors may view as a soft red flag on the company's filing discipline.