Additional Details required for Corporate Announcement filed under reg 30 of SEBI (LODR) Regulations, 2015 - Reason for delay.
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Polychem Ltd received a notice from BSE on May 29, 2025 imposing a fine of Rs 1,98,240 (including GST) for alleged non-compliance with Regulation 19(1)/19(2) of SEBI LODR regarding the composition of its Nomination and Remuneration Committee (NRC) for the quarter ended March 31, 2025. The company claims it has actually complied with the regulation and has filed a full waiver application on June 6, 2025. The disclosure under Regulation 30 was delayed because the Company Secretary was on leave when the fine notice arrived on May 29, and the company was awaiting a response on its waiver request before formally filing the disclosure.
The fine amount of Rs 1.98 lakh is immaterial to the company's financials. However, investors should watch for the outcome of the waiver application — if rejected, it raises governance questions around the NRC composition that could attract further regulatory scrutiny.