Tembo Global Industries pays ₹142,000 fine for director age limit non-compliance

Tembo Global Industries Limited has paid a fine of ₹142,000 plus GST to the National Stock Exchange of India Limited for failing to secure shareholder approval to retain a Non-Executive Director who had attained the age of 75. The penalty was levied for non-compliance with Regulation 17(1A) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, which mandates a special resolution for the continuation of a director's tenure beyond this age limit.

The Board of Directors reviewed the notice of non-compliance during its meeting held on May 25, 2026. In its response to the exchange, the Board characterized the violation as inadvertent and unintentional. It advised the management to implement measures ensuring timely adherence to regulatory requirements in the future.

The National Stock Exchange had issued a notice on February 27, 2026, detailing the specific financial penalties. The fine was calculated at ₹2,000 per day for a period of 71 days, resulting in the total base amount. The company confirmed that the entire amount, including the ₹25,560 GST component, was remitted within the timeline prescribed by the exchange.

Breakdown of penalties

The exchange provided a detailed annexure outlining the financial implications of the regulatory breach.

Regulation	Quarter	Fine amount per day (Rs.)	No. of days of non-compliance	Fine amount (Rs.)
REGULATION 17(1A)	31-Dec-2025	2000	71	142000
Total Fine				142000
GST @18%				25560
Total Fine Payable (Inclusive of GST)				167560

The notice from the exchange had warned of potential consequences, including the freezing of promoter shareholding and a shift to trade-for-trade settlement, had the fine remained unpaid. The exchange also outlined a waiver application process, though the company proceeded with the payment instead.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+1.80%	+9.36%	+2.90%	-17.25%	+37.91%	+292.90%

Tembo Global Industries Limited has secured approval from the National Stock Exchange (NSE) to list and admit to dealings a total of 30,37,402 equity shares of ₹10 each. These shares were allotted under a preferential issue, and trading will commence on the Exchange effective May 22, 2026.

Preferential Issue Details

The approved shares fall under the 'EQ' series with the symbol TEMBO. The securities carry distinctive numbers ranging from 15467147 to 18504548. The exchange confirmed that lock-in details for these shares are provided in the official annexure, with specific lock-in periods extending until November 29 and November 30, 2026.

Sr. No.	Security Description	Symbol	Series	No. of securities	Distinctive Numbers
1.	Equity shares of ₹10/- each allotted under Preferential Issue	TEMBO	EQ	3037402	15467147 to 18504548

Further Issue Listing

In a separate communication, the NSE also approved the listing of an additional 40,650 equity shares of ₹10 each allotted on a preferential basis. These shares will also be available for trading starting May 22, 2026, under the same symbol and series. The distinctive numbers for this lot range from 18504549 to 18545198.

Sr. No.	Security Description	Symbol	Series	No. of securities	Distinctive Numbers
1.	Equity shares of ₹10/- each allotted on preferential basis	TEMBO	EQ	40650	18504549 to 18545198

Lock-in Periods

The company has provided detailed lock-in schedules for the preferential allottees. The lock-in periods for the shares vary, with the majority of restrictions expiring on November 29, 2026, and some extending to November 30, 2026. The specific breakdown of share quantities and their corresponding lock-in end dates is detailed in the regulatory annexures.