Waiver of fine levied under Regulation 6(1) and warning letter issued by Exchange to avoid lapses in future while submitting disclosures with Exchange.
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Seasons Textiles Ltd informed exchanges that BSE has waived a fine that was originally levied under Regulation 6(1) of SEBI (LODR) Regulations, 2015, and instead issued a warning letter dated August 21, 2025. The fine related to incorrect details of the Compliance Officer filed in the Reconciliation of Share Capital Audit Report for the quarter ended March 2021, where a qualified Company Secretary was not appointed as mandated. The company had requested waiver of the fine, which the Exchange accepted, substituting it with a warning and an advisory to exercise greater due diligence in future disclosures. The company also acknowledged a slight delay in informing the Exchange about the waiver (filed on August 25 instead of immediately after receiving the waiver email on August 22), citing weekend closure.
The financial penalty has been waived and replaced by a warning, so there is no monetary hit to the company. However, the episode highlights past compliance lapses in regulatory filings, and any repeat offence could attract stricter disciplinary action from the Exchange.