Rajoo Engineers Limited has informed the Exchange about comment of the Board of Directors on BSE Notice dtd. May 14, 2025.
RAJOOENG · price
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BSE issued a notice dated May 14, 2025 to Rajoo Engineers for non-compliance with Regulation 17(1) of SEBI Listing Regulations for the quarter ended September 2024, due to failure to appoint a new Independent Director in place of a retiring one. BSE imposed a fine of Rs. 64,900 (including GST) on the company. The Board, at its meeting on June 17, 2025, responded that the 11-day delay was due to technical difficulties with no malafide or wilful intention. The Board has advised management to ensure timely compliance going forward.
The fine amount is very small (Rs. 64,900) and the company has attributed the lapse to technical issues rather than wilful default, so the impact on shareholders is minimal. However, recurring compliance lapses with board composition norms could attract investor scrutiny on governance practices.