S.A.L. Steel Limited has informed the Exchange about Action(s) initiated or orders passed
SALSTEEL · price
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S.A.L. Steel Limited has been fined by both BSE and NSE for failing to appoint a qualified Company Secretary as the Compliance Officer, as required under Regulation 6 of SEBI (LODR) Regulations, 2015. The non-compliance was for 76 days (ending March 31, 2025), attracting a fine of Rs. 1,000 per day. The total penalty is Rs. 76,000 plus 18% GST (Rs. 89,680) from each exchange, amounting to Rs. 1,79,360 in total. The company has stated there is no material impact on its financial position or operations from this penalty.
The financial impact is negligible — less than Rs. 2 lakh in total fines. However, it signals weak compliance governance as the company lacked a qualified company secretary for over two months, which may concern investors about internal compliance discipline.