Intimation of Board of Director''s comment on fine levied by Bombay Stock Exchange pursuant to Regulation 30 of SEBI (LODR) 2015
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Gala Global Products Ltd received a fine from BSE for late submission of the Shareholder Complaints Statement (Reg 13(3)) and the Corporate Governance Compliance Report (Reg 27(2)) under SEBI's Listing Obligations and Disclosure Requirements. The Board described the delay as an inadvertent, one-time procedural oversight, noting that the reports were prepared internally but filed late by a marginal period. The company has already paid the total fine of Rs. 22,420 (Rs. 16,520 under Reg 27(2) and Rs. 5,900 under Reg 13(3)). To avoid future lapses, the Board has directed the implementation of a Compliance Dashboard and reaffirmed its commitment to high governance standards.
This is a minor, routine compliance penalty with negligible financial impact (Rs. 22,420 in total). It is unlikely to materially affect the stock price, though investors may note the company's proactive steps to strengthen internal compliance.