NGL Fine-Chem Limited Boards Comment on Fines Levied by Stock Exchanges
NGL Fine-Chem Limited has provided commentary regarding the fines imposed by both the National Stock Exchange of India Limited (NSE) and BSE Limited following instances of non-compliance related to regulatory requirements.The stock exchanges issued notices imposing penalties on the company concerning delays in compliance under Regulation 29(2)/29(3) of the Securities and Exchange Board of India (SEBI Listing Regulations). The total fines imposed by both Exchanges were Rs. 11,800/- each.
The details of the penalties levied by the Stock Exchanges are presented below:
| Stock Exchange | Applicable Regulation of SEBI Listing Regulations | Amount of Total Fine |
|---|---|---|
| National Stock Exchange of India Limited | Regulation 29(2)/29(3) | Rs. 11,800/- |
| BSE Limited | Regulation 29(2)/29(3) | Rs. 11,800/- |
The Board of Directors reviewed the notices received from the Stock Exchanges and offered comments regarding the observed delay in submission of the intimation of the Board Meeting under Regulation 29 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
The Board stated that the delay was inadvertent and occurred due to an unintentional procedural lapse during compliance efforts within the prescribed timeline.
In response to the regulatory observations, the company has strengthened its internal compliance monitoring and review mechanism. The Board further advised management to exercise due diligence and ensure strict adherence to all prescribed timelines moving forward.
NGLFINE Stock Price Movement
NGL Fine-Chem Limited shares slipped by 0.66% on Wednesday, settling at ₹3409 after shedding ₹22.70 from the previous close. The stock movement occurred amidst notable trading volume of 11,567 shares, despite having previously achieved its 52-week high of ₹3602.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.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.
Any views, opinions, or statements expressed, where applicable, are those of the respective analysts or experts and do not reflect the views of this website. The website has no association with such viewpoints and does not assume any responsibility for them.