Pursuant to Regulation 30 of SEBI LODR Regulations, 2015, we hereby inform that the Company has received notices dated May 27, 2026 from BSE and NSE regarding non-compliance with provisions ....
GENESYS · price
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Genesys International received penalty notices from both BSE and NSE dated May 27, 2026 for non-compliance with Regulation 17(1) of SEBI LODR Regulations. A fine of ₹4,18,900 was imposed by each exchange, totaling ₹8,37,800. The non-compliance was caused by a vacancy in the Independent Director position following Mr. Manish Patel's retirement. The company has disclosed that the vacancy was already filled when Mr. Sumit Sen was appointed as Independent Director on March 13, 2026, prior to receiving the penalty notices. The company states there is no impact on its financial, operational, or other activities.
This is a relatively minor regulatory penalty that the company has already partially addressed. The underlying compliance issue (board composition) was corrected two months before the penalty was imposed. While the fine represents a small negative development, the company claims no operational impact and has demonstrated compliance by filling the director vacancy promptly.