Khaitan Chemicals & Fertilizers Limited — Important, 14-11-2024: Updates

The Board of Directors addressed the fine of Rs. 2,05,320 imposed by both the National Stock Exchange (NSE) and BSE for non-compliance with Regulation 17(1A) regarding the appointment of a Non-Executive Director aged over seventy-five. While there was no material impact on the company’s financials or operations, the Board advocates for enhanced caution to ensure compliance and avoid future violations. The company maintains adherence to Regulation 17(1) as of June 2024 and intends to submit a Waiver Application to the Stock Exchanges, pending a decision from the Securities Appellate Tribunal on a related order. This proactive approach aims to uphold regulatory standards going forward, positioning the company favorably within the regulatory framework.