3M India’s Board has addressed a fine from stock exchanges related to a one-day delay in disclosing related-party transactions for the quarter ended September 30, 2025. The company attributes the delay to technical issues. While seeking a waiver, 3M India reaffirms its commitment to compliance, stating there is no expected material impact on operations.
Board Review of Exchange Fine
The Board of Directors at 3M India convened on December 23, 2025, to address notices received from the Bombay Stock Exchange (BSE) and the National Stock Exchange of India (NSE) regarding a fine levied on the company. The issue stems from a one-day delay in disclosing related-party transactions as required under listing regulations.
Details of the Non-Compliance
The alleged non-compliance relates to a delay in disclosing related party transactions for the half-year period ending September 30, 2025. The company says this was inadvertent and attributed to technical glitches within the new Integrated XBRL filing utility. The total fine levied by each exchange is ₹5,000 (plus GST).
Company Response and Mitigation
3M India is planning to apply for a waiver of the fine. The company emphasizes its commitment to compliance and stated it will implement measures to ensure timely filings in the future, including making disclosures during working hours. The company does not anticipate any significant impact on its financial operations. 3M India is implementing internal controls to avoid recurrence of similar non-compliance.
Source: BSE
