Please find attached board comments for the fine levied by BSE Limited
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On the reaction day the stock moved 4.4 pts more than Nifty Microcap 250 and 2.3 pts more than its Ceramics peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
Minute windows have no benchmark: there is no intraday index history to compare against.
BSE Limited levied a fine of ₹35,900 (inclusive of GST) on Restile Ceramics for late submission of Related Party Transaction (RPT) disclosures for the half year ended September 30, 2025, as required under Regulation 23(9) of the SEBI Listing Obligations and Disclosure Requirements (LODR) Regulations, 2015. The company filed the RPT disclosures in XBRL format on November 06, 2025, after the prescribed deadline. The company attributed the delay to its interpretation of a BSE circular regarding the XBRL filing window for Integrated Financials, stating this was done in good faith with no intention to bypass SEBI norms. The Board of Directors formally noted the fine at its meeting held on February 05, 2026, and the company has already remitted the penalty amount to BSE on December 29, 2025.
The fine amount is negligible (₹35,900) and has already been paid, so the direct financial impact on shareholders is minimal. However, the episode highlights a compliance lapse in timely RPT disclosure under SEBI LODR norms, which investors may view as a minor governance red flag.