Board comments on penalty imposed by BSE.
RSWM · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
RSWM Limited informed stock exchanges that the Board noted the penalty of Rs. 1,95,000 (plus Rs. 35,100 GST) imposed by BSE for non-compliance with Regulation 17(1) and 17(1A) of SEBI's Listing Obligations and Disclosure Requirements Regulations. The company had already paid this penalty on July 2, 2025 in compliance with BSE's notice. Notably, the National Stock Exchange (NSE) had earlier reversed the penalty under Regulation 17(1A) via its letter dated February 28, 2025, but BSE did not reverse it. The Board discussed the matter and advised management to be more careful in future to avoid such instances. These regulations typically relate to board composition requirements including independent directors.
The penalty amount is small (around Rs. 2.30 lakh including GST) and has already been paid, so the direct financial impact is negligible. However, this signals a prior compliance lapse on board composition under SEBI LODR norms, which may concern governance-focused investors. The matter appears closed with no further escalation indicated.