Akums Drugs and Pharmaceuticals Limited has addressed a fine levied by the stock exchanges for non-compliance regarding the composition of its Board of Directors. The Board acknowledged the notice and confirmed that the underlying matter had been discussed in a board meeting. The fine, related to non-compliance with specified regulations, has been paid to the NSE within the stipulated timeline of September 18, 2025.
Addressing Non-Compliance Notice
Akums Drugs and Pharmaceuticals Limited has responded to a notice from the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) regarding non-compliance with regulations concerning the composition of the Board of Directors. This response follows letters and emails received on August 29, 2025, pertaining to this matter.
Board’s Review and Actions
The company’s board has reviewed the matter and informed the exchanges that the issue was already discussed in a board meeting. Further, Akums Drugs has confirmed that it has already paid the fine to the NSE on September 18, 2025, after receiving the final decision on the waiver application. This payment was made within the due timeline.
Background of the Fine
The fine was imposed due to non-compliance with Regulation 17(1) related to the composition of the Board of Directors. The exchanges initiated actions as per the Master Circular, which included notices regarding potential freezing of promoter shareholding and trade restrictions. Akums Drugs’ management submitted a waiver application to the exchange.
Source: BSE
