Board has noted the order of SAT in favour of company in the matter challenging the imposition of penalty of Rs. 1,05,000 by the BSE Limited for violation of regulation 33(3) (g) of LODR ....
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Hittco Tools Limited received a favorable order from the Securities Appellate Tribunal (SAT) on August 1, 2025 in its appeal against a Rs. 1,05,000 penalty imposed by BSE for not filing its cash flow statement in PDF format under SEBI LODR Regulation 33(3)(g). The company had uploaded the cash flow statement in XBRL format on time (November 15, 2023) but missed the PDF format, which it rectified within 5 days of BSE's notice. SAT allowed the appeal partly and reduced the penalty to Rs. 25,000 (Rs. 5,000 per day for 5 days), directing BSE to refund the excess amount of Rs. 80,000 already paid. No costs were awarded. The original violation was a technical filing-format lapse, not a substantive failure to prepare the cash flow statement.
The company will receive a refund of roughly Rs. 80,000 from BSE, and the favorable tribunal order clears the overhang of a heavier regulatory penalty. The financial impact is small in absolute terms, but the win signals that the matter was a minor procedural lapse rather than a serious compliance failure, which is mildly positive for the company's regulatory standing.