NON-APPOINTMENT OF A WOMEN DIRECTOR WILL NOW ATTRACT A FINE OF Rs 5000/= PER DAY FOR A LISTED COMPANY

NON-APPOINTMENT OF A WOMEN DIRECTOR WILL NOW ATTRACT A FINE OF Rs 5000/= PER DAY FOR A LISTED COMPANY

 

HEAVY PENALTY UNDER SEBI (LODR) Regulations, 2015 WITH EFFECT FROM 30^th SEPTEMBER 2018 FOR NON-COMPLIANCES.

Nature of Compliance	Regulation Under SEBI (LODR) Regulations, 2015	FINE PER DAY OR INSTANCE
NON – APPOINTMENT OF COMPLIANCE OFFICER	Regulation 6(1) SEBI (LODR) Regulations, 2015	Fine Rs 1000/= per day
Non-Appointment Share Transfer Agent	Regulation 7(1) SEBI (LODR) Regulations, 2015	Fine Rs 1000/= per day
Non-Introduction of Grievance Redressal Mechanism.	Regulation 13(1)/ 13(3) : SEBI (LODR) Regulations, 2015	Fine Rs 1000/= per day
Non-composition of the Board including failure to appoint  woman director	Regulation 17(1) SEBI (LODR) Regulations, 2015	Fine 5,000 per day
Non Constitution of Audit Committee	Regulation 18(1) SEBI (LODR) Regulations, 2015	Fine 2,000 per day
Nomination and Remuneration Committee	Regulation 19(1)/ 19(2) ) SEBI (LODR) Regulations, 2015	Fine 2,000 per day
Non Constitution of Stakeholders Relationship Committee	Regulation 20(2) ) SEBI (LODR) Regulations, 2015	Fine 2,000 per day
Non Constitution of Risk Management Committee	Regulation 21(2) ) SEBI (LODR) Regulations, 2015	Fine 2,000 per day
Non-submission  of  the  Corporate governance    compliance    report	Regulation 27(2) ) SEBI (LODR) Regulations, 2015	Fine 2,000 per day
Delay in furnishing prior intimation about the meeting of the board of directors:	Regulation 29(2) ) , 29(3) SEBI (LODR) Regulations, 2015	Rs 10,000 /= per instances of non-intimation
Non-submission   of   shareholding pattern within the period prescribed :	Regulation 31 SEBI (LODR) Regulations, 2015	Fine 2,000 per day
Non-submission   of   Statement of deviation(s) or variation(s).	Regulation 32 (1) SEBI (LODR) Regulations, 2015	Fine Rs 1000/= per day
Non-submission   of   the   financial results within the period prescribed	Regulation 33 SEBI (LODR) Regulations, 2015	Fine Rs 5,000 per day
Non-submission   of   the   Annual Report within the period prescribed	Regulation 34 SEBI (LODR) Regulations, 2015	Fine 2,000 per day
Non-submission    of    information regarding loss of share certificates and     issue     of     the     duplicate certificates	Regulation 39(3) SEBI (LODR) Regulations, 2015	Fine Rs 1000/= per day
Delay in/ non-disclosure of record date/ dividend declaration or non- compliance    with    ensuring    the prescribed  time  gap  between  two record dates/ book closure dates	Regulation 42(2)/42(3)/ 42(4)/42(5) SEBI (LODR) Regulations, 2015	Rs 10,000/= per instance of non- compliance per item
Non-submission    of    the    voting results  within  the  period  provided	Regulation 44(3) SEBI (LODR) Regulations, 2015	Rs 10,000/= per instance of non- compliance
Non-compliance with norms pertaining to functional website	Regulation 46 SEBI (LODR) Regulations, 2015	For , first instance , warning . For subsequent instance, Rs 10000/= fine for each instance of violation.

CONSEQUENCE OF NON-COMPLIANCE OF SEBI (LODR) REGULATIONS, 2015

Concerned  recognized  stock  exchange(s)  shall  display  on  their  website non-compliance by the listed entity and details of fine levied/ action taken.