Gandhar Oil Refinery (India) Limited has informed the Exchange about Cautionary letter/mail received from NSE.
GANDHAR · price
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Gandhar Oil Refinery received a cautionary email from NSE on April 1, 2025 for delaying the disclosure of a board meeting outcome. The July 25, 2024 board meeting approved the incorporation of a wholly owned subsidiary, but the company failed to notify the stock exchange within the mandatory 30-minute window as required under SEBI Listing Regulations. NSE has advised the company to be cautious in future and exercise due diligence, warning that any further lapses will be viewed seriously and could attract action. The company stated there is no impact on its financial, operational, or other activities. It has also been asked to present this cautionary email before its Board and outline corrective measures to prevent recurrence.
This is a procedural compliance warning, not a financial penalty or regulatory action, so it is unlikely to materially affect the stock price. However, it signals a lapse in timely disclosure practices, and repeated violations could invite stricter regulatory scrutiny in the future.