Corrigendum of Outcome of Board Meeting dated 24th July, 2025
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Awaiting price reaction for this filing.
BSE Limited imposed a fine of Rs. 1,80,000 (excluding GST) on Shree Precoated Steels Ltd on May 29, 2025, for alleged non-compliance with Regulation 19(1)/19(2) of SEBI's Listing Regulations, which relate to the constitution of the Nomination and Remuneration Committee. The company maintains that it has duly complied with these regulations and submitted detailed representations to BSE. As suggested by BSE, the company filed a waiver application along with a waiver application fee of Rs. 10,000 (excluding GST) on June 13, 2025. The company has stated that there is no material financial, operational, or other impact from this matter beyond the waiver application fee. This filing is a corrigendum to the original board meeting outcome dated July 24, 2025, with all other particulars remaining unchanged.
The fine amount is small (Rs. 1.80 lakh) relative to typical corporate finances and the company is actively contesting it through a waiver application, so material impact on shareholders is negligible. The matter is more of a compliance housekeeping issue than a significant governance concern.