Stock Exchanges Levy Fine on Viji Finance Ltd Over Board Composition Compliance Issue
Viji Finance Ltd has paid fines imposed by both BSE and NSE concerning an alleged failure to meet requirements related to the composition of its Board of Directors, according to recent disclosures. The company stated that it remitted the amount to the stock exchanges under protest, reserving its right to appeal or seek a waiver.The financial penalty was levied by both exchanges in connection with alleged non-compliance pertaining to Regulation 17(1) regarding the minimum number of directors required for the Board of Directors among top listed entities.
In response to the imposition, Viji Finance Ltd confirmed that it paid Rs. 1,35,700/- (inclusive of GST) to both National Stock Exchange of India Limited and BSE Limited. The company emphasized that the payment was made without admitting any alleged non-compliance and maintains its right to pursue appropriate remedies regarding the fine with the respective stock exchanges.
The company is currently in the process of submitting a formal response and representation to the stock exchanges concerning this matter.
A summary of the proceedings is detailed below:
| Aspect | Details |
|---|---|
| Authorities Involved | BSE Limited and National Stock Exchange of India Limited (NSE) |
| Nature of Action | Fines imposed for alleged non-compliance regarding the Board Directors requirement. |
| Date of Communication | Email communications from both exchanges were dated May 27, 2026, with reiteration of the fine issued on June 15, 2026. |
| Violation Details | Alleged non-compliance with Regulation 17(1) concerning the Board of Directors of top listed entities needing a minimum number of directors. |
| Financial Impact | The company reported no material impact on its finances or operations beyond the payment of the fine amount. |
Viji Finance Ltd affirmed that, while remitting the penalty, it reserves the right to challenge the levy and plans to file an application seeking waiver or review of the said fine before both stock exchanges.
VIJIFIN Stock Price Movement
Viji Finance Limited shares rallied today to close at ₹5.20, having gained 4.84% in the post-market session. The equity hit its 52-week high during trading, with a volume of 737,141 shares recorded for the day.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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