Polychem Ltd. Receives Full Waiver of Fine Imposed by BSE Regarding Committee Composition
Polychem Ltd. announced that the Bombay Stock Exchange (BSE) has approved the company's request for a full waiver of a fine that had previously been levied over compliance issues. The waiver concerns alleged non-compliance regarding the composition of the Nomination and Remuneration Committee for the quarter ending March 31, 2025.The company had initially received notice from BSE regarding non-compliance with provisions related to the Nomination and Remuneration Committee. The fine levied by the Exchange amounted to Rs 1,98,240/- including GST.
Polychem Ltd. clarified that the company maintains it has complied with the relevant regulations, noting that the Nomination and Remuneration Committee comprised three members throughout the quarter, as disclosed in the company's integrated governance report.
Following the imposition of the fine, the company addressed the issue by filing an application for a full waiver. The company's dispute was addressed through the exchange, and subsequent communication confirmed that the application for waiver was placed before the relevant authority of the Exchange.
In a material update, the company informed that the BSE confirmed through an email communication dated April 16, 2026, that the relevant authority had approved the request for the full waiver of the fine.
The company stated that there is no material impact of such fines on its financial, operational, or other activities.
The financial details of the fine and the waiver are summarized below:
| Item | Amount | Notes |
|---|---|---|
| Fine Imposed by BSE | Rs 1,98,240/- | Includes GST |
| Waiver Status | Full Waiver Approved | BSE Communication dated April 16, 2026 |
| Material Impact | None | No material impact on operations |
Stock Price Movement
Polychem Ltd shares settled at ₹2148.00 today, concluding the Thursday session down 0.08%. The stock traded through a wide intraday range, testing as low as ₹2087.00 before peaking at an intra-day high of ₹2198.00.Source:
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