NewsDhatre Udyog Receives BSE Fine of Rs.6,56,080/- for Non-Submission of SEBI Disclosure RequirementsDhatre Udyog Receives BSE Fine of Rs.6,56,080/- for Non-Submission of SEBI Disclosure Requirements
Dhatre Udyog Limited disclosed on 13th May, 2026 that BSE Limited imposed a fine of Rs.6,56,080/- (inclusive of GST) for non-submission of required disclosures under Regulations 33, 17(1), and 17(1A) of SEBI Listing Regulations, 2015 within prescribed timelines, covering quarters ended March 2024, June 2020, and September 2020 respectively. The company is pursuing waiver, withdrawal, or reduction of the fine, especially for non-compliances prior to the NCLT-approved Resolution Plan. The company has stated there is no material impact on its financials, operations, or other activities.
*this image is generated using AI for illustrative purposes only.
Dhatre Udyog Limited (formerly Narayani Steels Limited) disclosed on 13th May, 2026 that BSE Limited has imposed a fine of Rs.6,56,080/- (inclusive of GST) on the company. The disclosure was made pursuant to Regulation 30 read with Sub-Para 20, Para A, Part A, Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The fine was communicated by BSE via email dated 12th May, 2026.
Nature of Violation and Fine Details
The fine has been levied for non-submission of required disclosures within the prescribed timelines under SEBI Listing Regulations, 2015. The violations span multiple regulatory provisions and reporting periods. The table below summarises the key details of the regulatory action as disclosed by the company:
| Parameter: | Details |
|---|---|
| Authority: | BSE Limited ("BSE") |
| Fine Amount: | Rs.6,56,080/- (basic fine plus GST) |
| Date of Communication: | 12th May, 2026 |
| Regulation Violated (1): | Regulation 33 — Quarter ended March 2024 |
| Regulation Violated (2): | Regulation 17(1) — Quarter ended June 2020 |
| Regulation Violated (3): | Regulation 17(1A) — Quarter ended September 2020 |
| Nature of Violation: | Non-submission of required disclosures within prescribed timelines |
Company's Response and Impact Assessment
Dhatre Udyog has stated that it is in the process of seeking waiver, withdrawal, or reduction of the said fine. This effort is particularly directed at non-compliances pertaining to the period prior to the implementation of the Resolution Plan approved by the Hon'ble NCLT. The company has further clarified that there is no material impact on its financials, operations, or other activities as a result of the aforesaid regulatory action.
Regulatory Disclosure Framework
The disclosure was made in accordance with SEBI Circular HO/49/14/14(7)2025-CFD-POD2/1/3762/2026 dated 30th January, 2026, read with Regulation 30 and Para A of Part A of Schedule III of the SEBI Listing Regulations, 2015. The filing was signed by Ankita Dutta, Company Secretary and Compliance Officer of Dhatre Udyog Limited, on 13th May, 2026.
Historical Stock Returns for Dhatre Udyog
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +0.80% | +0.40% | -1.18% | -25.11% | -38.45% | +60.58% |
Will Dhatre Udyog's waiver application to BSE succeed given that the violations predate the NCLT-approved Resolution Plan, and what precedent does this set for other companies emerging from insolvency proceedings?
How might repeated regulatory non-compliance disclosures affect Dhatre Udyog's ability to attract institutional investors or secure financing as it rebuilds under its new identity?
Could BSE or SEBI impose additional scrutiny or enhanced compliance monitoring on Dhatre Udyog given that the violations span multiple regulations and reporting periods from 2020 to 2024?
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