Genesys International Corporation Limited Pays Fines to BSE and NSE Over Corporate Compliance
Genesys International Corporation Limited recently confirmed that it was assessed fines by both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) due to non-compliance with specified listing regulations. The penalties were related to provisions concerning corporate governance and the timely filling of directorial vacancies.The company received notice regarding the non-compliance on May 27, 2026. Consequently, a fine of ₹4,18,900/- was imposed by BSE, and an identical fine of ₹4,18,900/- was imposed by NSE.
The root cause of the non-compliance was identified as a vacancy created following the retirement of Independent Director Mr. Manish Patel. The company addressed this governance requirement swiftly, stating that it had already filled the vacancy by appointing Mr. Sumit Sen as an Independent Director on March 13, 2026.
The financial impact on the listed entity was reported as none.
The following table summarizes the details of the action taken by the stock exchanges:
| Authority | Action Details | Fine Imposed | Date of Notification | Violation Details |
|---|---|---|---|---|
| BSE Ltd. | Imposed fine inclusive of GST | ₹4,18,900/- | May 27, 2026 | Non-compliance with Reg 17(1) of SEBI LODR Regulations. |
| National Stock Exchange of India Limited | Imposed fine inclusive of GST | ₹4,18,900/- | May 27, 2026 | Non-compliance with Reg 17(1) of SEBI LODR Regulations. |
The company noted that the vacancy was successfully completed, and the appointment of Mr. Sumit Sen on March 13, 2026, ensured compliance with the required regulations.
GENESYS Stock Price Movement
Genesys International Corporation Limited shares slipped by 1.79% on Wednesday, settling at ₹247.15 in early trading. The stock closed amid significant activity, recording a total volume of 386,944 shares.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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