Karma Energy Limited has informed the stock exchanges about receiving a regulatory fine from BSE Limited for non-compliance with certain provisions of the SEBI Listing Obligations and Disclosure Requirements (LODR) Regulations, 2015.

Fine Details and Violations

The company disclosed the penalty details in a regulatory filing dated April 7, 2026, pursuant to Regulation 30 of the SEBI LODR Regulations.

Nature of Non-Compliance

The violations identified by BSE Limited include:

• Board Composition Issues: Delay in compliance with requirements pertaining to the composition of the Board of Directors
• Committee Constitution: Failure to properly constitute or maintain the Stakeholders Relationship Committee (SRC)

These violations fall under Regulation 17 and 20 of the SEBI LODR Regulations, which govern board composition requirements and committee formations for listed companies.

Financial Impact Assessment

Karma Energy Limited has clarified that the financial impact is limited to the fine amount of ₹5,80,560. The company stated that there is no impact on its operational activities, indicating that the penalty is purely regulatory in nature without affecting business operations.

Company Response and Next Steps

The company has indicated it is in the process of either paying the imposed fine or filing an appeal for waiver of the penalty. Karma Energy Limited has assured stakeholders of its commitment to adhering to all regulatory requirements going forward to prevent similar compliance issues in the future.

The disclosure was signed by T V Subramanian, who serves as both CFO and Company Secretary of Karma Energy Limited, emphasizing the company's commitment to transparency in regulatory matters.

Karma Energy Limited has successfully concluded its postal ballot process, with the Chairman declaring all three resolutions passed with requisite majority. The e-voting process was conducted from February 24, 2026 to March 25, 2026, with February 20, 2026 as the record date.

Postal Ballot Overview

The company had 9515 shareholders on the record date of February 20, 2026. The postal ballot notice was dated February 12, 2026, and the voting process was facilitated through National Securities Depository Limited (NSDL) as the Electronic Voting Service Provider.

Resolution Results

Resolution 1: Material Related Party Transaction with Tapi Energy Projects Limited

This ordinary resolution received strong support from public non-institutional shareholders, with promoter and promoter group abstaining from voting due to their interest in the agenda.

Resolution 2: Material Related Party Transaction with Windia Infrastructure Finance Limited

The second ordinary resolution showed identical voting patterns to the first resolution, with the same level of participation and approval rates.

Resolution 3: Continuation of Directorship

This ordinary resolution sought approval for the continuation of Mr. Dharmendra Gulabchand Siraj (DIN: 00025543) as a Non-Executive Non-Independent Director post attaining 75 years of age. This resolution saw participation from the promoter group, with Mr. Siraj and his relatives being interested parties.

Scrutinizer's Confirmation

Martinho Ferrao & Associates, Company Secretaries, served as the scrutinizer for the postal ballot process. The scrutinizer confirmed that all procedural requirements under the Companies Act, 2013 and SEBI Listing Regulations were duly complied with. The voting process was conducted in a fair and transparent manner, with proper arrangements made for shareholders to register their email IDs and participate in the e-voting facility.

Regulatory Compliance

The company ensured full compliance with Sections 110 and 108 of the Companies Act, 2013, along with Regulation 44 of SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. Public notices were published in 'Financial Express' (English) and 'Mumbai Lakshadweep' (Marathi) newspapers on February 24, 2026, to inform shareholders whose email IDs were not available with the company.