Announcement under Regulation 30 ( LODR)
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Awaiting price reaction for this filing.
Elnet Technologies Ltd was fined Rs. 2,05,320 (inclusive of GST) by BSE Limited for failing to properly constitute its Audit Committee as required under Regulation 18(1) of SEBI's Listing Regulations during the quarter ended March 2025. The fine was levied at Rs. 2,000 per day, with a basic fine of Rs. 1,74,000 plus Rs. 31,320 in GST. The company has already paid the penalty amount and assured the exchange that it will comply with all regulatory requirements going forward.
The financial impact is negligible given the small penalty size. However, shareholders should note that if this is a second consecutive quarter of non-compliance under Regulation 18(1), the stock could be moved to BSE's Z group and face trading suspension — a meaningful governance red flag for a small-cap stock.