Clarification for Delay in not Disclosing Material event within 24 hours according to Regulation 30 of SEBI(LODR) Regulation, 2015.
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Galada Finance Ltd has written to BSE explaining why it missed the 24-hour deadline to disclose the death of its Independent Director, Mr. Ponniah Bhaskaran, who passed away on May 29, 2025. The company says it only learned of the demise from the director's family on June 2, 2025, which is why the announcement could not be filed within the stipulated time under SEBI's Regulation 30. BSE had sent a query on June 13, 2025 seeking an explanation, and the company replied on June 16, 2025, apologizing for the delay and confirming it filed the announcement as soon as the information was received. The deceased director did not hold directorships in any other listed entity.
This is a procedural/compliance clarification with no direct financial impact on shareholders, though it may be viewed as a minor governance red flag regarding timeliness of material event disclosures. The stock price is unlikely to be materially affected by this event.