Garware Technical Fibres Limited has informed the Exchange about imposition of fine for non compliance of Regulation 17(1) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
GARFIBRES · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
BSE and NSE imposed a fine of Rs. 2,75,000 each (plus GST) on Garware Technical Fibres for not having at least six directors and a woman Independent Director on its board during part of the quarter ended December 31, 2025, in breach of Regulation 17(1) of the SEBI Listing Regulations. The gap arose because the term of independent director Ms. Malika Sagar ended on August 28, 2025, and the appointment of her replacement Ms. Kirti Dharmesh Mangwani was delayed pending approval from the Director General of Civil Aviation (DGCA). Once DGCA approval came through, Ms. Mangwani was appointed on November 25, 2025, restoring full compliance. The company applied to NSE for a waiver of the fines, which was approved on February 16, 2026.
No financial or operational impact for shareholders — the fines have been fully waived by NSE, and the company is now fully compliant with board composition norms.