Intimation of Disclosure under Regulation 30 w.r.t. Notice of Non-Compliance received by e-mail from BSE Limited
RAJOOENG · price
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Awaiting price reaction for this filing.
BSE Limited has imposed a fine of Rs. 64,900 (including GST) on Rajoo Engineers for failing to comply with SEBI's Regulation 17(1), which deals with the composition of the Board of Directors. Specifically, the company delayed appointing a new Independent Director to replace a retiring one and also failed to appoint a Woman Director on its board. The fine was calculated at Rs. 5,000 per day and covers the period up to the quarter ended September 2024. The company has been given 15 days to pay the fine and was asked to inform its Board about the non-compliance at the next meeting. The company has stated that the delay was due to technical reasons and there was no willful intent behind the lapse.
The fine is small and is unlikely to affect the stock price, but it highlights governance lapses in board composition that investors should watch. Failure to address this soon could lead to further penalties or stricter action from the exchange.