Board Comments in fine levied by BSE for alleged non-compliance of Regulation- 31A(3)(a) of SEBI(LODR) Regulations, 2015
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SPA Capital Services informed that BSE levied a fine of Rs. 5,900 on the company for a one-day delay in submitting a reclassification application under SEBI's Listing Regulations. The company received BSE's notice on 29th May 2025 and paid the penalty on the same day. The Board, at its meeting on 12th August 2025, attributed the delay to an outdated checklist on BSE's website and called it inadvertent. This is a minor technical compliance lapse with no operational or financial impact on the business.
The fine amount is negligible (Rs. 5,900) and has already been paid. This is a routine, minor compliance issue and is highly unlikely to have any meaningful effect on the stock price or shareholder value.