NSE levies fine of Rs 1.67 lakh for Reg 17(1A) non-compliance
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NSE has rejected Rashi Peripherals' waiver application for fines linked to non-compliance with SEBI Regulation 17(1A) for the quarters ended June 2024 and September 2024. BSE, as the designated exchange, did not favour the waiver, and NSE has directed the company to pay a fine of Rs 1.42 lakh plus 18 percent GST, totalling about Rs 1.67 lakh. Regulation 17(1A) deals with director age-related appointment requirements. The company says there is no material impact on operations beyond this one-time payment.
Minor one-time fine of about Rs 1.67 lakh for regulatory non-compliance; no material impact on operations or finances.