Chavda Infra Board Addresses NSE Fine Following Quarterly Compliance Lapse
Chavda Infra Limited, at its Board meeting held on May 18, 2026, placed on record its comments regarding a fine levied by the National Stock Exchange (NSE) of India for a lapse in regulatory compliance concerning the submission of financial results.The Board took note of a notice dated March 17, 2026, received from the NSE regarding non-compliance with Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This notice pertained to the delayed submission of un-audited standalone/consolidated financial results for the quarter ended December 31, 2025.
Details of the Non-Compliance
The records confirmed a delay of twelve days in filing the mandated results. The Board noted that the delay was unintentional and stemmed from an inadvertent oversight in tracking the applicable compliance trigger date. Specifically, the timing of the Quarter 3 (Q3) submission window was mistakenly consolidated with the compliance timeline following an equity share allotment that occurred on January 22, 2026. The Company stated that this understanding was erroneous, leading to the delay in filing the results for the quarter ended December 31, 2025.The Board confirmed that there was no intent by the Company or its management to delay or withhold any disclosure, classifying the lapse as purely procedural and resulting from a misinterpretation of applicable timelines.
Financial Penalty and Settlement
The fine assessed by the Exchange for the non-compliance was detailed as follows:| Regulation | Quarter | Fine per day (₹) | Days of delay | Fine amount (₹) |
|---|---|---|---|---|
| Regulation 33 | 31-Dec-2025 | 5,000 | 12 | 60,000 |
| GST@18% | 10,800 | |||
| Total Fine Payable (inclusive of GST) | 70,800 |
In addressing the matter, the Board confirmed that the Company had subsequently submitted the un-audited financial results for the quarter ended December 31, 2025, to the Exchange. Furthermore, the full fine amount of ₹70,800 was duly remitted by the Company through NEFT on April 08, 2026, in favour of the National Stock Exchange of India Limited.
Remedial and Internal Controls
In response to the lapse, the Board implemented several remedial measures. It mandated the review and strengthening of the internal compliance calendar and supervisory mechanisms to ensure that statutory timelines under the Listing Regulations are tracked independently, regardless of any concurrent corporate actions. The compliance officer was also instructed to establish additional internal compliance checks, including periodic review by the Audit Committee, to prevent future recurrence of such lapses.The Board expressed deep regret over the inadvertent delay and the consequent penalty, committing to strict and timely adherence to all applicable provisions of the Listing Regulations moving forward.
CHAVDA Stock Price Movement
As of 1:53 PM, shares of Chavda Infra Limited are slipping by 1.80% in live trading, currently resting at ₹98.20. The stock is seeing 13,000 shares traded today, contributing to its current intraday movement.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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