Lamosaic India Board cites candidate unavailability for NSE fine
Lamosaic India Limited responded to an NSE penalty for failing to appoint a Company Secretary in Q4FY26, attributing the delay to candidate unavailability. The Board confirmed the appointment of a qualified Company Secretary effective May 1, 2026, and advised management to prevent recurrence. The total fine amounts to ₹62,000 plus GST, with no material impact expected beyond the financial cost.
*this image is generated using AI for illustrative purposes only.
Lamosaic India Limited has communicated to the National Stock Exchange of India (NSE) the comments of its Board of Directors regarding a penalty imposed for non-compliance with listing regulations. The exchange levied a fine of ₹62,000 plus GST for the failure to appoint a qualified Company Secretary during the quarter ended March 31, 2026.
The notice, dated May 20, 2026, cited a violation of Regulation 6(1) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. In a response submitted on May 27, 2026, the Board attributed the non-compliance to a delay in appointment due to the non-availability of a suitable candidate within the prescribed timeline.
Compliance Status and Financial Impact
Lamosaic India Limited confirmed that it has appointed a qualified Company Secretary with effect from May 1, 2026. The Board advised the management to ensure that such non-compliance does not recur in the future. The company stated its intention to pay the fine within the timelines prescribed by the NSE.
The disclosure noted that there is no material impact on the financial, operational, or other activities of the company beyond the specified financial implication of the penalty.
Penalty Breakdown
The following table details the fine structure as provided in the regulatory notice:
| Regulation | Quarter | Fine amount per day (Rs.) | No. of days of non-compliance | Fine amount (Rs.) |
|---|---|---|---|---|
| REGULATION 6(1) | 31-Mar-2026 | 1000 | 62 | 62000 |
| Total Fine | 62000 | |||
| GST @18% | 11160 | |||
| Total Fine Payable | 73160 |
The NSE notice specified that the fine would continue to accrue every day until the date of compliance is achieved. With the appointment of the Company Secretary now effective, the company has addressed the core compliance issue required to stop further penalties.
Historical Stock Returns for Lamosaic India
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -5.12% | -9.04% | -10.27% | -38.68% | -41.39% | -86.56% |
What internal governance changes will Lamosaic India implement to prevent future delays in filling key compliance roles?
Could this non-compliance event influence investor perception or affect the company's credit rating in the short term?
Are there any other pending regulatory disclosures or compliance gaps that the company is currently addressing?
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