Request for review of SOP Fines imposed under Regulation 34 & 17(1A)
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Krypton Industries has written to BSE seeking a review of two SOP fines imposed under SEBI LODR regulations. The first fine of Rs. 84,000 under Regulation 34 is for alleged late filing of the FY 2016-17 Annual Report; the company argues the actual delay was only 26 days (filing on 26.09.2017 vs intended 01.09.2017), not the 84 days cited, and wants the penalty recalculated. The second fine under Regulation 17(1A) relates to continuation of a non-executive director above 75 years of age (Mrs. Vimala Devi Bardia); the company says shareholders already approved her continuation by special resolution at the 28.09.2024 AGM and has even paid Rs. 11,800 (Rs. 10,000 + GST + charges) as a waiver fee on 23.12.2024, but has received no response in nearly four months. The company is requesting full waiver of the second fine and reconsideration of the first.
This is a routine regulatory compliance dispute and does not impact the company's business operations, financials, or share price. Investors should note that minor SOP fines for compliance delays are common among small-cap listed entities and these amounts are immaterial relative to the company's size.