Intimation of non compliance
SINGERIND · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Singer India Ltd has disclosed that BSE Limited imposed a fine of Rs. 2,83,200/- on the company for non-compliance under Regulation 17(1) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, for the quarter ended 31st December 2024. The communication from BSE was received on 17th March 2025, and the intimation was filed on 17th April 2025. Regulation 17(1) typically deals with the composition of the Board of Directors, including the requirement for independent directors. The company has stated that the financial and operational impact is nil, except for the fines imposed. The penalty has not yet been paid, as the company is in ongoing deliberations and discussions with BSE Limited regarding the matter.
The penalty amount is small (Rs. 2.83 lakhs) and unlikely to materially affect the company's financials or operations. However, the non-compliance flag and the company's failure to pay the penalty on time (while engaging in discussions) is a minor governance red flag that shareholders should note, though it does not appear to indicate any deeper financial or operational distress.