Garware Technical Fibres has confirmed that the National Stock Exchange of India (NSE) has approved its request to waive penalties previously imposed. The fines stemmed from delays in adhering to specific disclosure regulations concerning board composition for the quarters ending September 30, 2025, and December 31, 2025. The company noted that the BSE had also imposed similar fines earlier. Garware has been advised by the NSE to ensure strict future compliance with all listing requirements.
Confirmation of Fine Waiver Approval
Garware Technical Fibres Limited issued a continuous disclosure following up on an earlier announcement dated November 29, 2025. This initial disclosure concerned the imposition of a fine totaling Rs. 1,65,000/- plus applicable GST levied separately by both the BSE Limited (“BSE”) and the National Stock Exchange of India Limited (“NSE”). The penalties were imposed due to non-compliance with Regulation 17(1) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 for the quarter ended September 30, 2025.
Scope of Compliance Delay
Subsequently, the Company filed an application with the NSE, acting as the designated stock exchange, seeking a waiver for the delay in complying with Regulation 17(1) for two consecutive quarters: the quarter ending September 30, 2025, and the quarter ending December 31, 2025.
Favorable Outcome Received
The Company is pleased to inform stakeholders that it has officially received approval from the Exchange(s) for the waiver of these imposed fines. This approval specifically covers delays related to Regulation 17(1)(a) and 17(1)(c) of the SEBI LODR Regulations, 2015, pertaining to the aforementioned quarters. The approval from the NSE was formally dated February 16, 2026, acknowledging that the request for a waiver was considered favorably by the Relevant Authority of the Exchange.
Future Compliance Assurance
The Company acknowledges the resolution and assures the exchanges that it is taking necessary steps to ensure compliance with all Listing Regulations and other applicable regulations going forward. The disclosure was signed by Sunil Agarwal, Company Secretary, on February 17, 2026.
Source: BSE
