Sigma Advanced Systems fined ₹4.83 Lakhs by BSE & NSE for Board Composition Non-Compliance
Sigma Advanced Systems Limited was fined ₹4.83 Lakhs by both BSE and NSE for non-compliance with board composition regulations. The company rectified the issue by appointing an additional director. The company stated there is no material impact on its financials or operations.
Although a fine has been imposed, the company has stated that there is no material impact on its financial, operational, or other activities, and the compliance issue has already been rectified.
The company has been fined by stock exchanges due to non-compliance with regulations, which is a negative development.
Sigma Advanced Systems Limited (formerly Megasoft Limited) has received emails on February 27, 2026, from BSE Limited and the National Stock Exchange of India Limited, intimating the imposition of a fine for non-compliance with Regulation 17 of SEBI (LODR) Regulations, 2015. The non-compliance pertained to the company's board composition, which temporarily fell short of the minimum required six directors following the resignation of Mr. Krishna Yeachuri.
The company has since appointed Mr. Cheemarla Damodar Reddy as an Additional Director (Non-Executive, Non-Independent) effective December 22, 2025, thereby rectifying the compliance issue. Each exchange has imposed a fine of ₹4,10,000 (base fine) plus 18% GST (₹73,800), totaling ₹4,83,800 separately for each exchange.
The company stated that there is no material impact on its financials, operations, or other activities. Sigma Advanced Systems Limited will pay the imposed fines to comply with the applicable SEBI listing regulations and circulars.
What to do with a filing like this
SIGMA ADVANCED SYSTEMS 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 low impact, the band that almost never moves a portfolio on its own.
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See the model portfoliosA plain-language summary of a public exchange filing by SIGMA ADVANCED SYSTEMS LIMITED. Read the original for the full detail.