RSWM Limited has informed the Exchange regarding 'The Board of Directors at its meeting held today, i.e. 13th May, 2025 was informed about the imposition of penalty by National Stock Exchange of India Limited and BSE Limited under Regulation 17(1) and Regulation 17(1A) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. It was further informed to the Board that the penalty under Regulation 17 (1A) was reversed by NSE vide their letter dated 28th February, 2025. However, NSE vide its letter dated 11th March, 2025 imposed penalty of Rs.1,25,000/- under Regulation 17 (1) which was intimated to Stock Exchanges. The Company is awaiting the decision of BSE Limited in this regard.The Board discussed the matter and after discussion noted the same and advised to be more careful in future to avoid recurrence of such incidents.
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RSWM Limited informed stock exchanges that the NSE and BSE imposed penalties on the company under Regulations 17(1) and 17(1A) of SEBI's Listing Obligations and Disclosure Requirements Regulations, 2015, which relate to board composition requirements. The penalty under Regulation 17(1A) was later reversed by NSE on February 28, 2025. However, NSE imposed a penalty of Rs. 1,25,000 under Regulation 17(1) on March 11, 2025. The company is still awaiting BSE's decision on the same matter. The Board noted the penalties and advised management to be more careful to avoid such non-compliance in the future.
The financial impact is minimal at Rs. 1.25 lakh, but the penalties point to past non-compliance with board composition norms under SEBI rules. This is largely a governance-related disclosure with negligible effect on stock price, though investors should watch for any further regulatory action or escalation by BSE.