Hardwyn India has been levied a fine of ₹3,25,000 plus applicable GST for non-compliance with Regulation 17(1) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The penalty relates to the quarter ended June 30, 2026.

The Board of Directors noted the lapse during its meeting on September 17, 2026. The non-compliance arose from an inadvertent mismatch in board composition following the resignation of Non-Executive Director Ms. Tanya Sayal on June 5, 2026.

Corrective Measures Taken

The company appointed Mr. Yogesh Garg as an Independent Director effective June 5, 2026, to restore compliance. Subsequently, Mr. Eakam Sayal was appointed as an Additional Director on August 29, 2026. The Board confirmed that the requisite board composition is now restored and the company is currently compliant with the regulations.

Waiver Application Proposed

The Board described the non-compliance as unintentional and without deliberate disregard for regulatory requirements. It has proposed submitting an application to the stock exchanges seeking a waiver of the fine. This request cites the inadvertent nature of the lapse, the immediate corrective measures undertaken, and the company's current compliant status.

What the Numbers Show

The financial impact is limited to the specific penalty amount. The company also confirmed it recently paid the fine for the previous quarter ended March 31, 2026, along with applicable GST and charges. This indicates a pattern of regulatory lapses across consecutive quarters, though the current board composition is now rectified.

Governance Strengthening

The Board directed management to strengthen internal monitoring mechanisms to prevent recurrence. The Compliance Officer and relevant officials have been instructed to undertake periodic monitoring of board composition and other statutory requirements. The Board expressed regret for the lapse and reiterated its commitment to robust corporate governance standards.

Hardwyn India Limited has been granted a three-month extension by the Registrar of Companies (ROC) to conduct its Annual General Meeting (AGM) for the financial year ended March 31, 2026. The regulatory relief allows the company to convene the meeting beyond the statutory deadline.

The ROC Delhi I issued the order on September 15, 2026, accepting the company's application filed on September 3, 2026. The original deadline for holding the AGM was September 30, 2026, under Section 96 of the Companies Act, 2013.

Reason for Extension

The company attributed the delay to the resignation of its secretarial auditor. This event prevented Hardwyn India from completing the necessary compliance formalities in time to hold the meeting within the standard six-month window after the financial year-end.

The ROC noted the circumstances and granted the extension under Section 96(1) read with the second proviso. However, the regulator advised the company to ensure timely compliance with statutory provisions in the future.

Next Steps

Hardwyn India must now schedule and hold its AGM within the extended period. The specific date will be intimated to stock exchanges once decided by the Board of Directors. The company disclosed this development to the National Stock Exchange and Bombay Stock Exchange on September 16, 2026.