Board comments on fine of Rs 1.94 lakh for delayed woman director appointment

SEBI penaltyRegulatory & Legal View source PDF Explain this filing

GARFIBRES · price

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Price reactionminutes from the announcement price · days from the prior close

+2.9%Reaction day

₹686.00

prior close

₹711.35

announcement price

After-mkt

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Nifty Microcap 250market · in no size index; the smallest one is used-0.5%+3.4% vs market

Other Textile Products peers, median of 165sector+0.0%+2.9% vs sector

On the reaction day the stock moved 3.4 pts more than Nifty Microcap 250 and 2.9 pts more than its Other Textile Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

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Reaction day

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Next day

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Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

NSE and BSE each fined Garware Technical Fibres Rs 1,94,700 (about Rs 3.89 lakh total) for not having a woman independent director on its Board, violating SEBI Regulation 17(1) for 33 days in the September 2025 quarter. The Board explained the delay was solely due to waiting for DGCA security clearance for new appointee Ms Kirti Dharmesh Mangwani, which was beyond the company's control. She was appointed on November 25, 2025, restoring full board compliance.

Likely market impact

Minor financial penalty, now fully compliant. No material impact expected on stock price or shareholders.