GTT Data Solutions received a penalty of ₹4,10,000 from BSE Limited on August 25, 2026, for failing to constitute its Nomination and Remuneration Committee as per SEBI Listing Regulations.

The exchange imposed the fine across three separate intimations covering the quarters ended December 2025, March 2026, and June 2026. The violation pertains to Regulation 19(1)/19(2) of the SEBI (LODR) Regulations, 2015, which mandates specific composition requirements, including the requisite proportion of Independent Directors.

Regulatory Action Details

The penalty was levied under the SEBI Standard Operating Procedure for non-compliance. The company disclosed the action under Regulation 30(6) read with Para A (20) of Part A of Schedule III of the Listing Regulations.

Remediation Status

GTT Data Solutions stated that the non-compliance was administrative in nature. The Board reconstituted the Nomination and Remuneration Committee effective June 7, 2026, restoring full compliance. Mr. Sai Manik Sud serves as Chairman, with Ms. Ruchika Mehta and Mr. Kaushal Uttam Shah as members.

What the Numbers Show

The company explicitly stated that the monetary impact is limited to the fine amount plus applicable GST. There is no reported impact on operations or financial position, indicating the penalty did not trigger broader regulatory sanctions or business disruptions.

GTT Data Solutions Limited has accepted the resignation of M/s. Mehta & Mehta as its statutory auditors and appointed M/s. N A M M & Associates to fill the resulting casual vacancy. The change takes effect from August 13, 2026, following the completion of the limited review report for the quarter ended June 30, 2026.

The outgoing auditors, M/s. Mehta & Mehta (FRN: 016513C), cited capacity and resource realignment within their firm as the primary reason for stepping down. In their resignation letter dated August 13, 2026, they clarified that the decision was driven purely by internal considerations and did not arise from any matter relating to the functioning, performance, or conduct of the company’s management or board. They confirmed there were no other circumstances connected with their resignation that required disclosure to shareholders or creditors.

The Board of Directors, based on the recommendation of the Audit Committee, approved the appointment of M/s. N A M M & Associates (FRN: 037143C) as the new statutory auditors. The firm will hold office until the conclusion of the ensuing Annual General Meeting and, subject to member approval, for a further period of five consecutive years up to the conclusion of the Forty-Fifth Annual General Meeting.

Auditor Transition Details

M/s. N A M M & Associates is a peer-reviewed firm empanelled under the Ministry of Corporate Affairs’ MEF scheme (MEF No. 125088). The firm operates from three strategic locations with its head office in Udaipur and additional offices in Chennai and Pune. CA Anmol L serves as the dealing partner for the engagement.

The company disclosed this change pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with Schedule III and SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026. The appointment remains subject to ratification by shareholders at the ensuing general meeting.