Sasken Technologies Limited has received penalty notices from stock exchanges BSE and NSE for alleged regulatory non-compliance, the company disclosed in a filing dated March 2, 2026. The penalties relate to purported violations of board composition and committee structure requirements under the listing regulations.

Penalty Details and Timeline

The company received email notifications from both exchanges on February 27, 2026, regarding penal action for non-compliance of Regulation 17(1) & 20(2)/(2A) of the Listing Regulations. The penalty structure and timeline are detailed below:

Regulatory Violations Alleged

Both BSE and NSE have imposed the fine for alleged non-compliance with specific listing regulation provisions. The violations pertain to:

• Regulation 17(1): Board composition requirements
• Regulation 20(2)/(2A): Stakeholders Relationship Committee composition norms

The financial impact on the company is limited to the penalty amount, with no other operational or business activities affected by the regulatory action.

Company's Response and Defense

Sasken Technologies has contested the penalty, maintaining that its governance structures have been compliant with regulatory requirements. The company stated that its Board composition and Stakeholders Relationship Committee composition have been regularly aligned with the requirements of Regulation 17(1) & 20(2)/(2A) of the Listing Regulations.

Waiver Applications Filed

The company has proactively sought relief from the imposed penalties through formal waiver applications. Key details of the waiver process include:

• Previous Application: Filed on December 8, 2025
• Coverage Period: Up to September 30, 2025
• Reference Communication: Exchange email dated November 28, 2025
• Current Status: Applications submitted to both NSE and BSE

The disclosure was made pursuant to Regulation 30 of the SEBI Listing Regulations and was signed by Company Secretary Paawan Bhargava. The company emphasized that despite the penalty notices, there has been no actual non-compliance with the specified regulations regarding board and committee composition requirements.

Sasken Technologies Limited has received an intimation order from the Income Tax Centralized Processing Centre (CPC) with a tax demand of ₹1,45,100, the company informed stock exchanges on February 6, 2026. The order relates to the company's superannuation fund trust for Assessment Year 2025-26.

Tax Order Details

The Income Tax order was issued under section 143(1) and received by the company on February 6, 2026. The order specifically concerns Sasken Superannuation Fund Trust, where surcharge was added to the tax payable, resulting in the demand creation.

Company's Response and Impact Assessment

Sasken Technologies has assessed that there is no material impact on its financial position, operations, or other activities due to this intimation order. The company emphasized that the order is currently appealable and stated its intention to exercise the right to appeal before CIT - Appeals.

Regulatory Compliance

The disclosure was made pursuant to Regulation 30 read with sub-para 20 of Para A of Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The intimation also follows SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024, regarding updates on tax litigation or disputes.

The company secretary Paawan Bhargava signed the regulatory filing, ensuring compliance with stock exchange notification requirements for both BSE and NSE.