Intimation Regarding Regulation 30 of SEBI (LODR) Regulations - Application of Full of Waiver of fine made to BSE is approved.
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Polychem Ltd received a fine of Rs 1,98,240/- (including GST) from BSE in May 2025 for alleged non-compliance with SEBI (LODR) Regulation 19(1)/19(2) regarding the composition of the Nomination and Remuneration Committee for Q4 FY25. The company disputed the fine, asserting it was fully compliant with the regulation and that the NRC committee was properly constituted throughout the quarter. Polychem filed an application for full waiver of the fine on 6th June 2025. BSE has now approved the full waiver on 16th April 2026, effectively absolving the company of the penalty. The company stated there was no material financial impact from the fine.
This is a positive development for Polychem — the waiver approval means the company avoids a financial penalty. It also reinforces the company's position that its governance practices were compliant, which is marginally positive for investor confidence.