Garware Technical Fibres Limited has received notices from BSE Limited and National Stock Exchange of India Limited (NSE) regarding the imposition of a fine of ₹2,75,000 plus GST each, for non-compliance with Regulation 17(1) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 for the quarter ended December 31, 2025. The non-compliance was due to the company having fewer than six Directors and not having a woman Independent Director during a part of the quarter. Ms. Malika Sagar ceased to be an Independent Director on August 28, 2025. The appointment of Ms. Kirti Dharmesh Mangwani as a Non-Executive Independent Director was delayed pending approval from the Director General of Civil Aviation (DGCA), with the application submitted on May 19, 2025. Ms. Mangwani was appointed effective November 25, 2025, bringing the company into compliance. The company had applied to NSE for a waiver of fines for non-compliance pertaining to the quarters ended September 30, 2025, and December 31, 2025. On February 16, 2026, the company received approval for the waiver of fines for delays related to Regulation 17(1)(a) and 17(1)(c) for these quarters. Consequently, the fines from BSE and NSE will not be paid as they have been waived by NSE. The company will provide suitable responses to the notices received.
