Mohit Industries Limited has informed the Exchange about General Updates
MOHITIND · price
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Mohit Industries Limited has been fined Rs. 4,95,600/- (including GST) each by both NSE and BSE, totalling about Rs. 9.91 lakhs, for not meeting the requirements of Regulation 17(1) of SEBI LODR Regulations for the quarter ended 31st March 2025. Regulation 17(1) relates to the composition of the company's Board of Directors, specifically requirements around independent directors. The company disclosed this with a delay, stating it initially believed the penalties were not applicable and was awaiting further clarification. The company has stated there is no material financial or operational impact beyond the penalty amount itself.
The penalty is relatively small (under Rs. 10 lakhs total) and the company says there is no other financial or operational impact. However, the underlying issue of board composition non-compliance may raise corporate governance concerns among shareholders and potential investors.