Disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 - Imposition of fine by Stock Exchanges
SUBEXLTD · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Subex Ltd has been fined Rs. 4,50,000 each by NSE and BSE (totalling Rs. 9,00,000 before GST) for failing to comply with Regulation 17(1) of SEBI LODR Regulations, which governs the composition of the Board of Directors. The violation arose after three board members, including two Women Independent Directors, unexpectedly resigned on September 29, 2025, leaving the board non-compliant. The company has since reconstituted its board with four Independent Directors, one Non-Executive Director, and one Woman Executive Director effective March 25, 2026, restoring compliance. Subex describes the non-compliance as unintentional and has applied to the exchanges seeking condonation of the delay and waiver of the fine, with a response still pending.
The fine is relatively small and the company states there is no material financial or operational impact. The matter is unlikely to directly affect the stock price unless the fine is large or raises governance concerns, but the board reconstitution is now complete.