Sambhaav Media Limited — Others, 22-11-2024: Action(s) initiated or orders passed

Sambhaav Media Limited has received fines of Rs. 33,040 each from BSE and NSE due to alleged delayed compliance concerning the appointment of Mr. Balveermal Singhvi as a Non-Executive Director, in line with Regulation 17(1A) of the SEBI Listing Regulations. The company asserts that the ongoing E-voting to obtain shareholder approval is valid and will conclude by December 6, 2024. Despite the fines, the firm considers its compliance proper and plans to appeal for a waiver, emphasizing no significant operational or financial impact beyond the fines if not waived. This situation presents a neutral impact from an investor perspective, given the company's position on compliance and its actions to address the fines.