Update on Boards comments on notices received from the exchanges
Awaiting price reaction for this filing.
Schaeffler India informed exchanges that its Stakeholder Relationship Committee was not constituted as required under Regulation 20 of SEBI Listing Regulations for 43 days during FY 2024. NSE and BSE each levied a fine of INR 1,01,480 (total ~INR 2,02,960) for this non-compliance. The Board reviewed the matter at its meeting on April 29, 2025, noted the lapses, and directed management to take steps to avoid recurrence of such delays in Board/Committee reconstitution. The fines have already been paid to both exchanges.
This is a minor governance/compliance lapse with a negligible financial impact (about INR 2 lakh total). It is unlikely to affect the stock price or shareholder value, and reflects a procedural shortcoming rather than any operational or financial issue.