Announcement under Regulation 30 of SEBI LODR
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Awaiting price reaction for this filing.
Elnet Technologies Ltd received a fine of Rs. 2,05,320 (inclusive of 18% GST) from BSE Limited for non-compliance with Regulation 18(1) of SEBI Listing Regulations regarding the constitution of its Audit Committee for the quarter ended March 2025. The fine was calculated at Rs. 2,000 per day, totalling Rs. 1,74,000 as the base amount, plus Rs. 31,320 as GST. The company has already paid the penalty and assured the exchange of future regulatory compliance. BSE has warned that if this becomes a second consecutive quarter of non-compliance, the company could face transfer to the Z group and potential suspension of trading in its shares.
Immediate financial impact is minor (around Rs. 2 lakh), but the underlying governance lapse around Audit Committee composition raises concerns for institutional investors. Investors should monitor the next quarter closely as repeat non-compliance could trigger trading suspension.