TTL , a textile company listed on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE), has been fined Rs 2,14,760 (including GST) for non-compliance with SEBI regulations regarding the continuation of non-executive directors who have attained the age of seventy-five years.

Non-Compliance Details

The non-compliance occurred due to the change in designation of Shri Rikhab Chand Jain from Executive Chairman & Director to Non-Executive Chairman & Director. As Shri Jain has attained the age of seventy-five years, his continuation in a non-executive role required shareholder approval as per Regulation 17(1A) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Board's Response

The Board of Directors, in a meeting held on November 5, 2025, addressed the non-compliance issue:

• The Board noted that the non-compliance was unintentional and arose due to the timing of the Board's decision and the subsequent requirement of shareholder approval.
• Shareholder approval for the continuation of Shri Rikhab Chand Jain as Non-Executive Chairman was obtained at the Annual General Meeting held on September 24, 2025.
• The company has applied for a waiver of the fine imposed by the stock exchanges.
• The compliance team has been instructed to strengthen internal monitoring to prevent such occurrences in the future.

Fine Details

Regulatory Implications

The fine was levied under Regulation 17(1A) of SEBI (LODR) Regulations, 2015, which mandates special resolution approval for the appointment or continuation of non-executive directors who have attained the age of seventy-five years.

TTL has been given 15 days from the date of the notice to pay the fine. Failure to do so could result in further actions, including the freezing of promoter shareholding.

The company's prompt response and corrective measures, including obtaining shareholder approval and applying for a fine waiver, demonstrate its commitment to addressing the compliance issue. However, this incident underscores the importance of timely adherence to regulatory requirements, especially concerning corporate governance matters.

Investors and stakeholders will likely monitor the company's future compliance record and the outcome of its waiver application closely.

TT Limited , a prominent player in the textile industry, has released its unaudited financial results for the quarter and half-year ended September 30, 2025. The company also successfully completed a rights issue, raising ₹240 crore. Let's delve into the key highlights of their performance and recent developments.

Financial Performance

TTL's financial results for Q2 FY2026 show a mixed performance compared to the same period last year. Here's a breakdown of the key figures:

For the half-year ended September 30, 2025, the company reported:

• Total revenue: ₹9,547.26 lakhs
• Net profit: ₹60.29 lakhs

Successful Rights Issue

In a significant move to strengthen its capital base, TT Limited completed a rights issue of equity shares during the quarter. Key details of the rights issue include:

• Total amount raised: ₹240 crore
• Allotment date: August 5, 2025
• Trading commencement: August 14, 2025

This capital infusion is expected to provide the company with additional resources for its operations and potential growth initiatives.

Operational Highlights

• TT Limited continues to operate in a single segment: textiles.
• The company's board meeting for approving these results was held on November 5, 2025, lasting from 3:00 PM to 5:45 PM.

Balance Sheet Snapshot

As of September 30, 2025, TT Limited's balance sheet shows:

The increase in total equity reflects the impact of the recent rights issue, strengthening the company's financial position.

While TT Limited faced some challenges in the quarter, as evidenced by the decline in revenue and net profit, the successful completion of the rights issue demonstrates investor confidence in the company's future prospects. The textile sector continues to be competitive, and TT Limited's efforts to bolster its financial position through the rights issue may help it navigate the evolving market landscape.