S&S Power Switchgear Pays Penalties to BSE Following Committee Composition Non-Compliance
S&S Power Switchgear Limited confirmed the payment of penalties levied by the BSE Limited and NSE Limited concerning a past non-compliance issue related to the Nomination and Remuneration Committee composition. The company reported paying the fine amount to BSE Limited on April 09, 2026.The penalties incurred amounted to Rs.3,28,040/- each, inclusive of GST, from both the BSE Limited and the NSE Limited. This action was taken for non-compliance with Regulation 19(1) and (2) of the Listing Regulations, which pertain to the composition of the Nomination and Remuneration Committee.
The company noted that an email communication was received from BSE Limited on April 08, 2026, indicating the rejection of the waiver application submitted by S&S Power Switchgear Limited.
S&S Power Switchgear Limited stated that the composition of the nomination and remuneration committee is currently in compliance with Regulation 19(1) and (2) of the Listing Regulations and continues to remain compliant.
The details regarding the penalty imposition and the violation were reported as follows:
| Sl No. | Details Required | Reply/Remark |
|---|---|---|
| 1 | Name of the authority | BSE |
| 2 | Nature and details of the action(s) taken or order(s) passed | Imposition of fine of Rs.3,28,040/- each by both BSE and NSE due to non-compliance of Regulation 19(1) & (2) of SEBI (LODR) Regulations, 2015 |
Furthermore, the timeline of events included the following details:
| Detail Required | Information Provided |
|---|---|
| Date of receipt of direction or order | Waiver rejection confirmation received on 08th April 2026. |
| Details of the violation(s) committed or alleged to be committed | Non-compliance with requirements pertaining to composition of the Nomination and Remuneration Committee |
| Impact on financial, operation or other activities of the listed entity | None, there is no material impact on financials, operations or other activities of the Company. The company has already complied with the Regulation 19(1) & (2) of SEBI (LODR) Regulations, 2015. |
Stock Price Movement
Closing today, S&S Power Switchgear Ltd achieved ₹327.95, climbing 1.88% on Thursday. The shares fluctuated throughout the day, tracing a path between the low of ₹321.00 and the high of ₹327.95.Source:
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