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Awaiting price reaction for this filing.
BSE Limited has levied a fresh fine of Rs. 1,32,160 (inclusive of GST) on Panchmahal Steel for not having a properly constituted Nomination and Remuneration Committee during part of the quarter ended March 31, 2025, in violation of Regulation 19(1)/19(2) of SEBI Listing Regulations. The company had earlier re-constituted the committee on February 26, 2025, after receiving a first notice from BSE, and had also paid a previous fine of Rs. 11,800 for non-compliance during the October–December 2024 quarter. The company says the omission was inadvertent and has stated there is no financial or operational impact beyond the penalty amount. It is now applying to BSE for a waiver of the additional fine.
The fine is small relative to the company but highlights repeated lapses in board-level committee compliance, which is a minor negative governance signal for shareholders; the company is seeking a waiver, so the final cash outflow is not yet confirmed.