Intimation of imposition of fine by BSE Limited
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BSE Limited has imposed a fine of INR 2,12,400 (including GST) on Rathi Steel & Power for alleged non-compliance with Regulation 19(1) and 19(2) of SEBI's Listing Regulations, which relate to the constitution of the Nomination and Remuneration Committee (NRC) of the company. The fine was communicated via BSE email on May 29, 2025, and the Board noted it at its meeting on May 30, 2025. The company has stated that, based on the Board's assessment, there is no such non-compliance and a suitable reply will be filed. The company also clarified that there will be no material impact on its financial operations or other activities.
The fine is small (about INR 2.12 lakh) and the company states it has no material financial or operational impact. However, the dispute over the NRC compliance issue may create short-term governance-related uncertainty for shareholders.