Halder Venture Limited Addresses Board Composition Fine from BSE
Halder Venture Limited announced that its Board of Directors discussed and acknowledged a fine levied by the Bombay Stock Exchange (BSE) related to non-compliance with Regulation 17(1) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, concerning the composition of its Board for the quarter ended December 2025.The company received a notice from the BSE on February 27, 2026, regarding the alleged non-compliance. This marks the second consecutive instance of a fine from the BSE for non-compliance with the same regulation.
Halder Venture Limited explained that the non-compliance arose after the completion of a Scheme of Amalgamation with effect from January 1, 2025, which made the Corporate Governance provisions under the SEBI (LODR) Regulations, 2015 applicable to the company. The company stated it has two Independent Directors with expertise in Finance and Audit and has been actively seeking an Independent Director with Marketing/Business Development experience. The status of this search was disclosed in the Integrated Governance Report for the quarter ended September 30, 2025.
The company confirmed full compliance with Regulation 17(1) of the SEBI (LODR) Regulations, 2015, effective November 14, 2025. The period of non-compliance lasted 44 days, spanning from October 1, 2025, to November 13, 2025.
The Board reviewed the regulation and the subsequent action taken by the company, including a waiver application filed with the BSE on March 2, 2026. The Board confirmed compliance and advised taking precautions to ensure timely adherence to Listing Regulations in the future.
Halder Venture Limited was instructed by the BSE to pay a total fine of 259,600, inclusive of GST, within 15 days. Failure to do so may result in freezing of promoter shareholding and potential suspension of trading.
Financial Details of Fines
The following table summarizes the fines levied by the BSE:
| Applicable Regulation of SEBI (LODR) Regulations, 2015 | Fine prescribed | Fine levied till the quarter ended December 2025 | Fine payable (inclusive of GST @18%) |
|---|---|---|---|
| Regulation 17(1) Non-compliance with Board composition requirements, including failure to appoint a woman director | Rs. 5,000 per day | 220,000 | |
| Regulation 17(1A) Non-compliance with requirements pertaining to the age of a Non-executive director | Rs. 2,000 per day | 0 | |
| Regulation 17(2) Non-compliance with Board meeting requirements | Rs. 10,000 per instance | 0 | |
| Regulation 17(2A) Non-compliance with requirements pertaining to quorum of Board meetings. | Rs. 10,000 per instance | 0 | |
| Regulation 18(1) Non-compliance with the constitution of audit committee | Rs. 2,000 per day | 0 | |
| Regulation 19(1)/ 19(2) Non-compliance with the constitution of nomination and remuneration committee | Rs. 2,000 per day | 0 | |
| Regulation 20(2)/(2A) Non-compliance with the constitution of stakeholder relationship committee | Rs. 2,000/- per day | 0 | |
| Regulation 21(2) Non-compliance with the constitution of risk management committee | Rs. 2,000/- per day | 0 | |
| Regulation 27(2) Non-submission of the Corporate governance compliance report | *Rs. 2,000/- per day | 0 | |
| Total | 259,600 |
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