Gujarat State Petronet Limited has informed the Exchange regarding 'Board Comments on Fines levied by the Exchanges'.
Awaiting price reaction for this filing.
Both BSE and NSE levied a fine of Rs. 53,100 each (basic Rs. 45,000 + Rs. 8,100 GST) on Gujarat State Petronet for non-compliance with Regulation 17(1) of SEBI LODR Regulations, which deals with the composition of the Board. The non-compliance was observed during the quarter ended 31 December 2025, with the fine calculated at Rs. 5,000 per day for 9 days. The company's Board met on 11 March 2026, reviewed the notices from both exchanges, and decided to file waiver applications with BSE and NSE seeking relief from these fines. The company will also need to pay a waiver processing fee of Rs. 10,000 plus GST to the designated exchange, since the fine amount exceeds Rs. 5,000.
This is a minor compliance issue with relatively small financial impact (total fine of about Rs. 1.06 lakh across both exchanges). The Board has proactively decided to seek a waiver, and the matter is unlikely to materially affect the stock price. However, investors should note that the company had a temporary gap in proper board composition during the October-December 2025 quarter, which is a corporate governance red flag worth monitoring.