In terms of Reg 30 of the SEBI, LODR. 2015, we hereby inform that the Company has received notice from the BSE Ltd. regarding Non Compliance with the provisions of Reg 17 (1), 18 (1) and ....
GRSE · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
BSE has imposed a fine of ₹9,55,800 on Garden Reach Shipbuilders & Engineers for non-compliance with SEBI LODR regulations 17(1), 18(1), and 19(1)/19(2). The violations pertain to the quarter ended 31 March 2026 and involve the absence of required Independent Directors including a Woman Independent Director, and failure to constitute the Audit Committee and Nomination and Remuneration Committee. The company, being a Central Public Sector Enterprise under the Ministry of Defence, stated that director appointments are controlled by the Government of India through Presidential Orders, and the non-compliance arose from the government's delay in appointing Independent Directors. GRSE has requested the stock exchange to waive the fine, citing the matter is beyond its control.
The fine is relatively small (under ₹10 lakh) but signals weak corporate governance compliance, which could concern investors. However, the company has sought waiver and is actively pursuing the government for appointments, which may limit long-term impact if resolved soon.