Disclosure under Regulation 30 regarding payment of fine and request for waiver
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SGL Resources Ltd was levied a fine of Rs. 2,53,700 (including GST) by BSE for non-compliance with SEBI LODR Regulation 33, due to non-filing of audited financial results for Q4 and the year ended March 31, 2025. The company paid the fine on July 18, 2025 to avoid further penal consequences. The delay was attributed to the absence of a duly appointed statutory auditor — a casual vacancy arose on April 5, 2025, and the auditor subsequently appointed was not approved by members via postal ballot, leading to his immediate cessation. Members finally approved a statutory auditor in an EGM held on July 18, 2025, and the audit process is now underway.
While the penalty amount is relatively small (Rs. 2.53 lakh) and has already been paid, the underlying issue of governance and auditor appointment delays reflects compliance weaknesses. Shareholders should watch for timely completion of the audit and pending filings, as repeated non-compliance could attract stricter regulatory scrutiny.