Kothari Sugars And Chemicals Limited has informed the Exchange regarding 'Board comments on fine levied by the exchange'.
KOTARISUG · price
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NSE imposed a fine on Kothari Sugars for non-compliance with SEBI's Listing Regulations related to the re-appointment of an independent director, Mr. C.V. Krishnan, whose explanatory statement did not explicitly mention he would turn 75 during his tenure. The Board reviewed the matter and noted that the company had actually disclosed his date of birth, provided detailed justifications, and passed the required special resolution. The company has already paid the fine and submitted a waiver application on June 5, 2025, which is currently pending review after a personal hearing. The Board confirmed there is no material impact on the company's financial or operational activities.
This is a minor procedural compliance issue with no material financial or operational impact on the company. Shareholders need not be concerned, though investors may note the governance lapse and the small fine already paid. The waiver request, if approved, could lead to a refund.