Bannari amman spinning mills Limited has been fined by both the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) for non-compliance with regulatory requirements related to independent director appointments. The penalty stems from the company's failure to follow proper procedures when appointing a director who had exceeded the prescribed age limit.

Regulatory Violation Details

The fine has been levied for non-compliance with Regulation 17(1A) of the SEBI Listing Regulations. The specific violation relates to the company's failure to obtain prior approval of shareholders through Special Resolution in connection with the appointment of Mr. Shanmugavelayutham as Non-Executive Independent Director, who had already attained the age of 75 years.

Fine Structure and Timeline

Both stock exchanges have imposed identical penalties on the company. The fine amount and payment timeline have been clearly specified in the communications received from the exchanges.

The company has been given 15 days from the date of notice to make the payment of the imposed fines.

Company Response and Impact Assessment

Bannari Amman Spinning Mills Limited has assessed the financial impact of these penalties on its operations. According to the company's disclosure, there is no material impact of such fines on the financial, operational, or other activities of the company.

The management has outlined its response strategy:

• Taking necessary steps for payment of the imposed amounts
• Planning to appeal for waiver of the fines
• Will place the matter before the Board of Directors in the next meeting
• Board comments will be communicated to respective exchanges

Regulatory Framework

The intimation has been made pursuant to Regulation 30 of the SEBI Listing Regulations, read with specific SEBI circulars. The disclosure references SEBI Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 issued on July 11, 2023, and last updated on January 30, 2026, along with SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024, which deals with penal actions for non-compliance.

The company has fulfilled its disclosure obligations by informing both exchanges about the penalty and its planned course of action, ensuring transparency with stakeholders regarding this regulatory matter.

Bannari Amman Spinning Mills Limited has formally submitted its unaudited financial results for the third quarter of fiscal year 2026 to major stock exchanges. The textile company filed the mandatory quarterly disclosure with both the National Stock Exchange of India Limited and BSE Limited on February 14, 2026.

Regulatory Compliance and Documentation

The submission was made pursuant to Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company provided comprehensive documentation including the statement of unaudited financial results for the quarter and nine months ended December 31, 2025, along with a limited review report from statutory auditors.

Board Meeting Details

The board meeting to approve the financial results was conducted on February 14, 2026. The meeting commenced at 12.38 PM and concluded at 3.15 PM, indicating a comprehensive review session lasting approximately 2 hours and 37 minutes.

Company Information

Bannari Amman Spinning Mills Limited operates from its registered office located at 252, Mettupalayam Road, Coimbatore - 641 043, Tamil Nadu. The company maintains its corporate identity with CIN L17111TZ1989PLC002476 and trades on stock exchanges under specific scrip codes.

The filing was signed by N Krishnaraj, Company Secretary, who digitally authenticated the submission on February 14, 2026, at 15:19:14 +05'30'. This regulatory filing ensures transparency and compliance with stock exchange requirements for listed companies in India.