Akshar Spintex fined ₹4.71 Lakh by NSE for regulatory non-compliance
Akshar Spintex Limited paid ₹4.71 Lakh penalty to NSE on May 13, 2026, after its waiver applications were rejected. The penalties were for non-compliance with SEBI LODR Regulations concerning board composition and appointment of a Company Secretary. The total penalty, including GST, was ₹5.15 Lakh.
The penalty amount, while not excessively large in relation to the company's overall financials, represents a direct cost and highlights ongoing compliance challenges that could affect investor confidence.
The company incurred a financial penalty due to non-compliance with regulatory requirements, which negatively impacts its corporate governance standing.
Akshar Spintex Limited has disclosed that the National Stock Exchange of India Limited (NSE) has rejected its waiver applications for penalties related to non-compliance with SEBI LODR Regulations. The company had faced notices for not constituting the Board of Directors within the prescribed limit (Regulation 17(1)(c)) and for not appointing a qualified Company Secretary as Compliance Officer within the stipulated time (Regulation 6).
Regarding the Board composition, the company stated that proposed appointments could not be finalized due to a lack of shareholder approval. For the Company Secretary position, challenges in identifying a suitable candidate and the publication of advertisements were cited. Despite these submissions, the NSE rejected the waiver applications.
Consequently, Akshar Spintex was obligated to pay the penalties. The company paid a total of ₹4,71,960/- on May 13, 2026, along with a TDS amount of ₹43,700/-. The penalties were imposed for non-compliance with Regulation 6 for 17 days (September 30, 2025, to October 18, 2025) and Regulation 17(1) for 84 days (November 25, 2025, to February 18, 2026). The total penalty, inclusive of GST, amounted to ₹5,15,660/-, with the due date for payment being May 15, 2026. The company has not received any correspondence from BSE Limited.
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Akshar Spintex Limited filed this with the NSE as a statutory disclosure, categorised under other regulatory filings. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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See the model portfoliosA plain-language summary of a public exchange filing by Akshar Spintex Limited. Read the original for the full detail.