Intimation under Regulation 30 read with sub-para 20 of Para A of Part A of Schedule III of SEBI LODR Regulations 2015
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Swastika Investmart Ltd has disclosed that NCCL imposed a monetary penalty of Rs. 1,21,871 plus GST on the company for incorrectly reporting excess collateral with other clearing corporations during the period August 2022 to July 2023. The original applicable penalty was Rs. 1.21 crore but was reduced to 1% of that amount by the NCCL Member Committee after the company explained that the reporting error was due to technical glitches in its Back Office system. The company has since rectified the error and is now correctly reporting collateral. Management has confirmed there is no material impact on the company's financials, operations, or other activities.
The penalty amount is negligible relative to the original Rs. 1.21 crore figure and management confirms no financial or operational impact, so this is unlikely to materially affect shareholders or the stock price.