Balkrishna Paper Mills Limited — Important, 23-11-2024: General Updates

Balkrishna Paper Mills Limited has received an administrative warning from SEBI for non-compliance with certain regulations regarding Related Party Transactions (RPTs). The company's annual consolidated turnover for FY 22-23 was reported at Rs 109.45 crore, while RPTs with Poddar Bio Diesel Private Limited amounted to Rs 23 crore for the half-year ended September 2023, exceeding the materiality threshold of 10%. Although the Company obtained post facto approval from shareholders in April 2024, the lack of prior approval constituted a violation of SEBI's regulations. SEBI has advised strict adherence to compliance moving forward, with future violations subject to serious scrutiny. The Company’s Board has acknowledged the warning and will ensure compliance with regulations. Notably, this administrative warning has no impact on the ongoing financial or operational activities of the company.