Sampann Utpadan India Limited Faces ₹4.20 Lakh Penalty for Trading Approval Delay
Sampann Utpadan India Limited has been penalized ₹4.20 lakh plus 18% GST by NSE for a 21-day delay in filing trading approval application for 82 lakh equity shares under preferential issue. The company cited administrative challenges and delayed NSDL confirmation as reasons for missing the 7-day compliance deadline. Despite the delay, the company maintains that investor interests were not adversely affected due to applicable lock-in requirements on the issued shares.
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Sampann Utpadan India Limited has been imposed a penalty of ₹4.20 lakh plus 18% GST by the National Stock Exchange for non-compliance with trading approval filing requirements. The penalty was levied under Regulation 30 of SEBI (LODR) Regulations, 2015, for delayed submission of trading approval application.
Penalty Details and Compliance Timeline
The company failed to meet the mandatory requirement of filing trading approval application within 7 working days from the date of listing approval. According to SEBI Master circular SEBI/HO/CFD/PoD-2/P/CIR/2023/00094 dated June 21, 2023, listed entities face a penalty of ₹20,000 per day for non-compliance until the date of compliance.
| Parameter | Details |
|---|---|
| Case ID | 256778 |
| Shares Involved | 82,00,000 equity shares |
| Due Date of Compliance | 19/12/2025 |
| Actual Date of Compliance | 09/01/2026 |
| Non-compliance Period | 21 days |
| Total Fine Amount | ₹4,20,000 + 18% GST |
Company's Response and Justification
Sampann Utpadan India Limited submitted its response to NSE on February 23, 2025, explaining the circumstances behind the delay. The company emphasized that investor interests were not adversely affected by the three-day procedural delay, as the 82 lakh equity shares issued under the preferential issue are subject to lock-in requirements.
The lock-in period extends to 18 months for promoters and 6 months for non-promoters, commencing from the date of trading approval grant, in accordance with Regulation 167 of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018.
Administrative Challenges Cited
The company attributed the delay to circumstances beyond its control, specifically citing issues with NSDL confirmation receipt. According to the company's explanation, the Credit of Shares letter issued by NSDL dated January 7, 2026, was received only on January 9, 2026, despite multiple follow-ups.
As per SEBI circular dated November 11, 2024, trading approval applications must be accompanied by confirmation of credit of shares from the depository. The company stated it filed the application immediately upon receiving the required confirmation from NSDL on January 9, 2026.
Regulatory Framework and Compliance Requirements
The penalty falls under the regulatory framework governing preferential issues and trading approvals. The SEBI Master circular mandates strict adherence to filing timelines to ensure market transparency and investor protection. The ₹20,000 daily penalty structure is designed to encourage prompt compliance with regulatory requirements.
Sampann Utpadan India Limited, formerly known as S E Power Limited, operates from its registered office in Vadodara, Gujarat. The company has requested NSE to consider the circumstances and grant approval to the trading application, emphasizing that no prejudice was caused to investor interests due to the administrative delay.
Historical Stock Returns for Sampann Utpadan
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +1.63% | -4.04% | -3.52% | -5.23% | -2.29% | +629.51% |
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