SIGMA ADVANCED SYSTEMS LIMITED has informed the Exchange about Action(s) taken or orders passed- Intimation under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("SEBI Listing Regulations") - Intimation in relation to imposition of fine on Sigma Advanced Systems Limited (Formerly Megasoft Limited).
SIGMAADV · price
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Sigma Advanced Systems Limited has been fined by both BSE and NSE for non-compliance with SEBI Listing Regulations on board composition. After the resignation of Director Mr. Krishna Yeachuri, the board dropped to 5 directors against the minimum requirement of 6. Each exchange has imposed a fine of Rs. 4,83,800 (including GST), taking the total to about Rs. 9.67 lakh. The company has since appointed Mr. Cheemarla Damodar Reddy as Additional Director on December 22, 2025, fixing the shortfall. The company says there is no material impact on its financials or operations and it will pay the fines.
This is a minor regulatory penalty for a temporary governance gap that has already been rectified. The fine amount is small relative to a listed company, and the issue is resolved, so impact on shareholders is negligible. However, it flags weaker board oversight and compliance processes, which is a mildly negative governance signal.