Gufic Biosciences Limited has informed the Exchange about Disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
GUFICBIO · price
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Gufic Biosciences has paid a penalty of ₹1,72,000 (excluding GST) to BSE after the exchange rejected the company's waiver application. The penalty relates to the quarter ended September 30, 2024 and stems from non-compliance with SEBI's Regulation 17(1A), which requires shareholder approval by special resolution for appointing a director aged 75 years or older. The company had appointed Mr. Kamal Kishore Seth (DIN: 00194986) as an Additional Director (Non-Executive Independent Director) without obtaining this special resolution. An earlier penalty of ₹8,000 for Q1 FY25 (June 2024) had already been paid to both BSE and NSE, and the waiver for that was also unsuccessful.
The financial impact is negligible — total penalties amount to under ₹4 lakh — but the matter highlights a compliance lapse in director appointments that the company will need to rectify going forward. This is unlikely to materially affect the stock price, though it may be noted by investors as a governance red flag.