C2C Advanced Systems Addresses Fine Levied by NSE Over Delayed Financial Result Submission

C2C Advanced Systems Addresses Fine Levied by NSE Over Delayed Financial Result Submission​

C2C Advanced Systems Limited has confirmed that it has remitted the fine levied by the National Stock Exchange (NSE) related to non-compliance concerning the submission of audited standalone financial results for the half year and the year ended on March 31, 2026. The Company's Board meeting on July 18, 2026, took note of all related matters.

The Company had received a notice from NSE detailing non-compliance regarding Regulation 33 of the Listing Regulations.

Fine and Compliance Details​

Details concerning the fines imposed by the Exchange for the delayed compliance are as follows:


A separate notice from the NSE provided details regarding non-compliance, stating that if compliance was not achieved and fines were not paid within a specified period, freezing of promoter holdings could be initiated.

Payment and Non-Compliance Rationale​

C2C Advanced Systems Limited confirmed that payment toward the fine amount has been made. The total amount paid was Rs 2,95,000, inclusive of GST, on July 12, 2026.

The Board provided comments regarding the non-compliance, attributing the delay to certain unavoidable circumstances. Specifically, a delay occurred in receiving necessary data and records from the Company's branch office located in the United States of America. The Management had been actively coordinating with the US branch office for obtaining the required financial and operational information for consolidation and reconciliation.

The Board noted that upon receipt of the supporting data from the branch office, the accounts were duly examined and reconciled, ensuring preparation of financial statements according to the Companies Act, 2013, applicable Accounting Standards/Indian Accounting Standards (Ind AS), and statutory requirements. The Board concluded that the delay was due to these unavoidable circumstances and not attributable to any wilful default or negligence by the Company.

Remedial Actions Taken by the Board​

The Board identified several remedial actions following the review of the matter:

• The audited financial results for the half year and year ended on March 31, 2026 have been submitted to the Exchange, thereby restoring compliance under Regulation 33 of the Listing Regulations.
• The fine levied by the Exchange has been duly remitted by the Company.
• The Company has reviewed and strengthened its internal compliance calendar and supervisory mechanism to ensure statutory timelines are tracked independently and to prevent repetition of lapses.
• The compliance officer was instructed to implement additional checks, including periodic internal compliance reviews by the Audit Committee, to ensure timely adherence to disclosure obligations.

The Board expressed deep regret over the inadvertent delay and the resulting fine, directing management to ensure strict and timely adherence to all applicable provisions of the Listing Regulations moving forward.

C2C Stock Price Movement​

C2C Advanced Systems Limited shares climbed on Friday, edging up by 1.82% to settle at ₹418.90 in the market close. The stock saw a steady trading day, with total traded volume reaching 112,800 shares.