Schaeffler India Limited has informed the Exchange regarding 'Update on Boards comments on Notices from the Exchanges .
SCHAEFFLER · price
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Schaeffler India informed exchanges that its Stakeholder Relationship Committee was not constituted as required under Regulation 20 of SEBI Listing Regulations for 43 days during FY 2024. The company paid a fine of INR 1,01,480 to each of NSE and BSE (total ~INR 2.03 lakh) for this non-compliance. The Board reviewed the matter at its April 29, 2025 meeting and directed management to take steps to avoid such delays in reconstituting Board committees in the future.
This is a minor administrative compliance lapse with a negligible financial penalty. No material impact on operations, financials, or shareholder value is expected — it is a procedural disclosure, not a regulatory action against the company.