Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements)Regulations, 2015, as amended, (SEBI LODR Regulations) we hereby inform you that theCompany has received a notice dated May 27, 2026 from BSE Ltd. (BSE) and National StockExchange of India Limited (NSE) regarding non-compliance with the provisions of Reg 17(1) ofthe SEBI LODR Regulations. In view of the said non-compliance, a fine of Rs. 4,18,900/- has beenimposed by each of the stock exchanges respectively.
GENESYS · price
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Genesys International Corporation received notices from both BSE and NSE dated May 27, 2026 regarding non-compliance with Regulation 17(1) of SEBI LODR Regulations. The violation occurred due to a vacancy in the Independent Director position following the retirement of Mr. Manish Patel. Each stock exchange has imposed a fine of Rs. 4,18,900 (inclusive of GST). The company clarified that it has already filled the vacancy by appointing Mr. Sumit Sen as Independent Director on March 13, 2026, in compliance with the regulations. The company states there is no impact on its financial, operational, or other activities.
The fine amounts to Rs. 8,37,800 total, which is relatively small for a listed company. However, the non-compliance relates to board composition requirements, which could raise concerns about governance practices. The company has since remedied the situation by appointing a new Independent Director.