South West Pinnacle Exploration Limited has informed the Exchange regarding 'Board Comments on fine levied by the Exchange'.
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Awaiting price reaction for this filing.
South West Pinnacle Exploration has been fined Rs. 1,08,560 (including 18% GST) jointly by NSE and BSE for not complying with Regulation 17(1A) of SEBI's listing rules, which requires a special resolution for appointing a non-executive director aged 75 or above. The company has already filed an application with NSE and BSE on March 31, 2025, seeking a waiver of the fine, calling the non-compliance purely unintentional. The board met on May 22, 2025, noted the matter, and directed management to be more careful with regulatory compliance in the future.
This is a minor compliance lapse with a small financial penalty that the company is actively trying to get waived. The event is unlikely to have any meaningful impact on the stock price or business operations.