disclosure of fine levied by NSE and BSE for Non Compliance under regulation 17(1) of SEBI LODR.
RELIABLE · price
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Reliable Data Services Ltd has been fined Rs. 2,59,600 each by NSE and BSE (total Rs. 5.19 lakh) for non-compliance with Regulation 17(1) of SEBI LODR for Q4 FY26 (quarter ended March 31, 2026). The violation relates to board composition requirements, specifically failure to appoint a woman director. The fine accrued over 44 days of non-compliance at Rs. 5,000 per day, plus 18% GST. The company stated it is in the process of filing for waiver of the fines. If not complied within 15 days, the exchanges may freeze promoter shareholding and shift trading to Z category (Trade for Trade basis) if this constitutes a consecutive default.
The fine is relatively small but signals weak corporate governance. If non-compliance continues next quarter, the stock could face trading restrictions and move to Z category, severely impacting liquidity and investor sentiment.