Announcement made under Regulation 30 of SEBI (LODR) 2015 of fines imposed by Stock Exchange under Regulations 17(1) and 19(1)/19(2).
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Standard Surfactants Ltd has been fined by BSE for two consecutive quarters of non-compliance with corporate governance norms. The fines relate to failure to appoint a Woman Director (Regulation 17(1)) and non-constitution of the Nomination and Remuneration Committee (Regulation 19(1)/19(2)). Total fines imposed are Rs. 5,08,580 for the Dec-24 quarter and Rs. 7,43,400 for the Mar-25 quarter (both inclusive of GST), aggregating to about Rs. 12.5 lakh. The company has paid Rs. 4,65,480 as partial payment for the Dec-24 quarter and has applied to BSE on 12.06.2025 for waiver of the fines, with the outcome still awaited.
The fines themselves are small and the company says there is no material financial or operational impact beyond the penalty amount. However, since this is the second consecutive quarter of non-compliance under Regulation 17(1), BSE has warned that the company could be moved to the Z group and face suspension of trading in its equity shares if it does not rectify the board composition. Shareholders should watch for the waiver outcome and whether the company appoints a Woman Director soon.