Borana Weaves Limited Appoints New Compliance Officer and Board Approves NSE Fine Representation

Borana Weaves Limited Appoints New Compliance Officer and Board Approves NSE Fine Representation​

Borana Weaves Limited conducted a meeting of its Board of Directors on Wednesday, July 29, 2026. During the meeting, the Board addressed several key appointments related to secretarial audit and compliance management, as well as reviewing a fine levied by the National Stock Exchange (NSE).

The board took note and accepted the resignation of Mr. Jitendrakumar Rewashankar Rawal, Practising Company Secretary, who served as the Secretarial Auditor of the company. This resignation was effective from July 24, 2026.

To fill the resultant vacancy, the Board approved the appointment of Kunjal Dalal, Proprietor of K. Dalal & Co., as the Secretarial Auditor. Mr. Kunjal Dalal was also appointed as the Practising Company Secretary, providing professional secretarial and compliance-related services to the company. Furthermore, he was designated as the Scrutinizer for conducting remote e-voting during the ensuing Annual General Meeting (AGM).

Key Appointments and Personnel Changes​

The Board approved several appointments aimed at enhancing corporate governance and compliance structures:

• Practising Company Secretary: Kunjal Dalal, Proprietor of K. Dalal & Co., was appointed for this role. Mr. Dalal possesses vast knowledge and experience spanning more than three decades in areas such as Company Law, LLP Act, Securities Laws, Legal Due Diligence, Mergers and Acquisitions, Listings, and Capital Market Transactions.
• Secretarial Auditor: Mr. Kunjal Dalal was appointed to fill the casual vacancy, effective from July 29, 2026, with a term extending up to the ensuing AGM. His qualifications include FCS No. 3530; CP No. 3863; and Peer Review No. 8134/2026.
• Company Secretary and Compliance Officer: Mr. Ishant Jain (ACS No. A42601) was appointed as the Company Secretary and Compliance Officer and Key Managerial Personnel, effective from July 29, 2026. Mr. Jain is an Associate Member of ICSI with over 10 years of experience in corporate secretarial, regulatory, and compliance functions.

NSE Fine Consideration and Resolution​

The Board reviewed the matter regarding a fine levied by the National Stock Exchange (NSE) concerning non-compliance or delayed compliance as per a notice dated June 30, 2026. The company noted that this non-compliance occurred due to an inadvertent and unintentional error, and was neither deliberate nor motivated by any mala fide intention.

The Board confirmed that the applicable fine had been paid by the Company on July 24, 2026, after the deduction of TDS. After reviewing the circumstances of the matter, the Board authorized management to submit an appropriate application or representation to NSE seeking a waiver or refund of the fine and instructed them to undertake all necessary actions in this regard.

BORANA Stock Price Movement​

As of 3:26 PM, shares of Borana Weaves Limited are rallying strongly at ₹327, having climbed 1.47% in live trading today. The stock recorded a robust volume of 53,935 shares during the current market session.