disclosure under regulation 30 oF SEBI (LODR) Regulations, 2015- Penalty Imposed by BSE LIMITED
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BSE Limited has imposed a penalty of Rs. 5,000 per day on Sparkle Gold Rock Ltd for the month of April 2025, citing non-compliance under Regulation 31A(3)(a) of SEBI (LODR) Regulations, 2015. This relates to a delay in submitting the company's reclassification application to the stock exchange. The company disputes the penalty and plans to make representations to BSE. The total financial impact for April 2025 would be approximately Rs. 1.5 lakh (Rs. 5,000 x 30 days). The company has committed to resolving the matter and complying with regulatory requirements going forward.
The penalty amount is small relative to most company finances, so direct financial impact is minimal. However, it signals governance/compliance weaknesses that small-cap retail investors should monitor, especially since the company is contesting the penalty rather than accepting it.