Niraj Ispat Industries Limited has informed the Exchange regarding 'Board comments on fine levied by the Exchange for non-compliance / delayed compliance under Regulation 6 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015'.
NIRAJISPAT · price
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NSE fined Niraj Ispat Industries for not having a qualified Company Secretary as its Compliance Officer under Regulation 6 of the SEBI Listing Regulations. This is the second tranche of penalty — the first covered the quarter ended December 2024 and the latest covers the quarter ended March 2025. The Board of Directors met on 21st May 2025 to discuss the matter and confirmed that the company had already appointed a qualified Company Secretary effective 22nd February 2025, making it now fully compliant. Both penalties have been paid, with the latest payment made to NSE on 6th June 2025 via fund transfer. The Board has apologised for the delay and assured stronger systems to prevent such lapses in the future.
This is a minor governance/compliance issue that has already been resolved — the non-compliance is rectified, the fine is paid, and the company is back in good standing with the exchange. For shareholders, the financial impact is likely negligible (NSE fines for such lapses are small), though it reflects weak internal compliance processes that the company says it is now addressing.