Monarch Networth Capital Limited has informed the Exchange regarding 'Board Comments on the fine levied by Exchange'.
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Monarch Networth Capital informed the exchanges that the Board has reviewed the fines imposed by BSE and NSE (letters dated May 29, 2025) for delays in reconstituting the Board and key committees — Nomination and Remuneration Committee, Stakeholders Relationship Committee, and Risk Management Committee. The Board concluded that the delay was inadvertent and carried out without any malafide intent. The company confirmed that both fines have already been paid within the prescribed timelines. The disclosure was made under Regulation 30 of SEBI's Listing Obligations and Disclosure Requirements Regulations, 2015, following a SEBI master circular on fines for non-compliance with board composition norms.
This is a minor regulatory compliance matter with no material financial impact, as the fines have already been paid and no action was taken against directors or operations. Shareholders are unlikely to see a meaningful effect on the stock price, though it highlights governance delays in reconstituting key board committees.