HEG Limited has informed the Exchange regarding 'Board comments on fine levied by the Exchange'.
HEG · price
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HEG Limited informed the exchanges about a fine of Rs. 1,01,480 (including GST) levied by both NSE and BSE for non-compliance with SEBI's Listing Regulations regarding the appointment of Dr. Kamal Gupta (aged 75+) as a Non-Executive Non-Independent Director. The company had filed a waiver application with NSE on March 20, 2025, which was rejected on June 30, 2025. The fine was paid on July 1, 2025. The Board stated that the appointment was made in good faith, a special resolution was passed by shareholders for the appointment, and the company decided not to pursue further litigation.
This is a minor regulatory penalty for a procedural non-compliance and has no material financial impact on the company. The fine amount is negligible compared to HEG's overall scale, and the board's clarification should reassure shareholders that this was a compliance interpretation issue rather than governance failure.