Himatsingka Seide Limited has informed the Exchange about partial waiver of fine by Regulatory Body
HIMATSEIDE · price
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Awaiting price reaction for this filing.
Himatsingka Seide Limited received a partial waiver from NSE on a fine originally levied for non-compliance with SEBI Listing Regulations related to board composition (Regulation 17(1)) for the quarter ended June 30, 2023. Out of the total fine of Rs. 4,45,000 for 89 days of non-compliance, NSE accepted Rs. 1,55,000 for waiver and rejected Rs. 2,90,000, which the company must pay along with 18% GST (total Rs. 3,42,200) by July 21, 2025. The company had already paid the full fine upfront and is awaiting reimbursement of the waived portion; BSE has already refunded its share of the waived fine. The non-compliance likely relates to a shortfall in meeting the required composition of the Board (such as inadequate independent directors).
The financial impact is minor (under Rs. 3.5 lakh), so it is unlikely to move the stock. However, the underlying non-compliance signals a past governance lapse that retail investors may want to keep in mind. The partial waiver is a small positive, but two-thirds of the fine still stands.