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Gufic Biosciences Limited ( (IN:GUFICBIO) ) has shared an update.
Gufic Biosciences has disclosed that stock exchanges BSE and NSE imposed monetary penalties for alleged non-compliance with SEBI rules governing the appointment of independent directors over the age of 75. The issue relates to the appointment of Kamal Kishore Seth as an additional non-executive independent director without prior shareholder approval via special resolution.
The company had applied for a waiver of these penalties but BSE rejected the request, prompting full payment of the dues. Gufic has now settled all outstanding penalties for the June and September 2024 quarters, removing an overhang of regulatory uncertainty around this specific corporate governance matter for investors and exchanges.
More about Gufic Biosciences Limited
Gufic Biosciences Limited is an Indian pharmaceutical company listed on both BSE and NSE, operating in the biosciences and healthcare sector. The company focuses on developing and marketing pharmaceutical formulations and related healthcare products for domestic and international markets.
Average Trading Volume: 1,312
Technical Sentiment Signal: Hold
Current Market Cap: 28.75B INR
See more insights into GUFICBIO stock on TipRanks’ Stock Analysis page.