Laxmi Dental Limited has addressed regulatory compliance issues while simultaneously strengthening its leadership team with a key appointment. The company's Board of Directors has responded to a fine imposed by the National Stock Exchange of India Limited while appointing Mr. Suman Saha as Company Secretary and Compliance Officer effective January 16, 2026.

NSE Fine and Board Response

The National Stock Exchange of India Limited imposed a fine on Laxmi Dental Limited for non-compliance with Regulation 23(9) of the SEBI (LODR) Regulations, 2015 for the quarter and half year ended September 30, 2025. The Board acknowledged the regulatory observations and provided detailed comments on the matter.

Reasons for Non-Compliance

The Board explained that the non-compliance occurred due to administrative oversight during the absence of the Company Secretary and Compliance Officer on maternity leave. The Chief Financial Officer, who was duly authorized to carry out regulatory filings, experienced an inadvertent oversight in verifying system-generated acknowledgements. The company emphasized that financial results were uploaded on both BSE and NSE within required timelines, and the lapse was purely unintentional with no mala fide intent.

Strategic Leadership Appointment

To address compliance challenges, the Board appointed Mr. Suman Saha as Company Secretary and Compliance Officer. The appointment was approved following a recommendation from the Nomination and Remuneration Committee during their meeting held on January 16, 2026.

Professional Expertise and Background

Mr. Suman Saha brings substantial expertise to his new role, holding qualifications as an Associate Member of the Institute of Company Secretaries of India (ICSI) and a Law Graduate from the University of Mumbai. His professional experience spans corporate laws, secretarial compliance, corporate governance, and regulatory matters under the Companies Act, 2013.

Career Experience

Mr. Saha's career includes significant positions across major corporate groups including Assistant General Manager - Company Secretary with the Lodha Group, Head - Company Secretarial and Legal with OPPO Mobiles, and previous associations with the Sahara Group and IL&FS Group.

Regulatory Compliance and Next Steps

The company has submitted a formal request for waiver of fine to the National Stock Exchange and is actively following up on the matter. Mr. Saha will serve as one of the authorized officials for determining materiality of events and information under Regulation 30(5) of the Listing Regulations, including making necessary disclosures to stock exchanges. The Board has advised strict adherence to all regulatory compliance requirements in a timely manner to prevent future occurrences.

H.G. Infra Engineering Limited has informed stock exchanges about a structural change in one of its joint statutory auditor firms. The company notified BSE and NSE on January 16, 2026, regarding the conversion of M S K A & Associates from a partnership firm to Limited Liability Partnership structure.

Joint Auditor Firm Conversion Details

The joint statutory auditor M S K A & Associates, Chartered Accountants, converted to Limited Liability Partnership under the provisions of the Limited Liability Partnership Act, 2008. The conversion became effective from January 13, 2026, and the firm is now operating as M S K A & Associates LLP, Chartered Accountants.

Continuity of Audit Services

H.G. Infra Engineering Limited has confirmed that this conversion represents only a change in the firm's constitution. The company stated that M S K A & Associates LLP will continue to function and discharge their obligations as joint statutory auditors for the remaining period of their approved tenure without any change in the audit engagement.

Regulatory Compliance

The intimation was made under Regulations 30 and 51 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The notification was signed by Ankita Mehra, Company Secretary & Compliance Officer, and sent to both BSE (Scrip Code: 541019) and NSE (Symbol: HGINFRA).

The auditor firm communicated this conversion to the company through a letter dated January 15, 2026. The company has ensured proper disclosure to maintain transparency with stakeholders regarding this administrative change in their audit structure.