Saakshi Medtech and Panels Limited has approached the National Stock Exchange of India (NSE) to waive a ₹2,000 penalty levied for a one-day delay in filing its shareholding pattern for the quarter ended March 31, 2026. The company attributed the delay to an unforeseen technical issue on the NEAPS portal, which disrupted the upload process despite preparatory steps being taken within the prescribed timelines. The disclosure was eventually submitted on May 22, 2026, prior to the issuance of the penalty notice on May 14, 2026.

The NSE issued the notice under Regulation 31 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, citing non-compliance with the standard operating procedure for filing shareholding patterns. The exchange identified a one-day delay in compliance, resulting in a base fine of ₹2,000 and an additional GST of ₹360, bringing the total payable amount to ₹2,360. The notice warned that failure to pay the fine or ensure compliance could lead to the freezing of promoter shareholdings and a shift in trading to the 'Trade for Trade' basis.

In its response, Saakshi Medtech & Panels stated that the delay was inadvertent and unintentional, occurring despite bona fide efforts to comply with regulatory requirements. The company emphasized that there was no deliberate or malafide intent behind the non-compliance. It further noted that the matter had been placed before its Board of Directors, who have taken cognizance of the delay and directed the strengthening of internal compliance monitoring and reporting mechanisms to prevent recurrence.

The company has formally requested the waiver of the fine, citing the bona fide nature of the delay arising from technical difficulties and the fact that compliance has since been achieved. It assured the exchange of its continued cooperation and commitment to maintaining high standards of regulatory compliance. Mrs. Mayuri Aniket Latkar, CFO and Whole-Time Director, signed the response submitted on June 9, 2026.

Details of Penalty

Saakshi Medtech and Panels Limited secured shareholder approval to increase its authorized capital and issue equity shares on a preferential basis during an Extra-Ordinary General Meeting (EGM) held on June 2, 2026. The resolutions were passed with a requisite majority, with 13,520,900 votes polled representing 76.58% of the total outstanding shares. There were no votes cast against any of the resolutions. Mrs. Mayuri Aniket Latkar, Chief Financial Officer and Whole-time Director, submitted the voting results to the National Stock Exchange of India Limited on June 4, 2026, under Regulation 44(3) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Voting Results

The remote e-voting process was scrutinized by Jay Pandya, Proprietor of M/s. Jay Pandya & Associates, Company Secretaries. The voting period remained open from May 29, 2026, to June 1, 2026. The promoter group, holding 13,210,100 shares, participated fully via e-voting, while public shareholders also cast their votes through the remote e-voting facility.

Resolutions Passed

Meeting Details

The EGM commenced at 03:00 P.M. and concluded at 03:19 P.M. on June 2, 2026. The company confirmed that neither the promoters nor the promoter group were interested in the agenda or resolutions presented. The results of the remote e-voting were announced within the stipulated timeframe and intimated to the stock exchanges.