Lokesh Machines Limited has informed the Exchange about Action(s) taken or orders passed
LOKESHMACH · price
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Lokesh Machines has received notices from both BSE and NSE levying a fine of Rs. 2,41,900 each (inclusive of GST) for non-compliance with Regulation 17(1) of the SEBI Listing Regulations during the quarter ended December 31, 2025. The non-compliance relates to the composition of the Board, specifically a vacancy of an independent director. The company explains that the delay in filling the vacancy was due to the mandatory prior approval from the Ministry of Home Affairs (MHA) required under the Arms Act, 1959, since the company manufactures small arms. A new independent director was eventually appointed on November 11, 2025, after receiving MHA approval. The company is now applying to both exchanges for a waiver of the penalty.
The total financial impact is approximately Rs. 4.84 lakh, which is immaterial for the company. The company has already appointed a new independent director, so the compliance issue is resolved. The stock price is unlikely to be meaningfully affected, though the event highlights a regulatory compliance gap in board composition.