Prakash Pipes Limited has informed the Exchange about the notice received from BSE regarding fine
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Prakash Pipes Limited received a notice from BSE on June 27, 2025, levying a fine of Rs. 1,53,400 (including GST) for alleged non-compliance with Regulation 23(9) of SEBI's Listing Regulations, which requires disclosure of related party transactions on a consolidated basis. The company clarified that only remuneration was paid to Key Managerial Personnel during the reporting period, with no other related party transactions, and that this remuneration falls outside the scope of mandatory disclosure under the fourth proviso to Regulation 23(9) as amended in December 2024. The company has stated there is no financial or operational impact and is pursuing revocation of the penalty with BSE. The fine itself is small relative to typical corporate penalties and concerns a technical disclosure requirement.
The penalty amount is immaterial to the company's finances, and the company is actively contesting it, so the impact on shareholders and stock price is expected to be negligible. Investors should watch for any update on whether BSE revokes the fine.