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Sasken Technologies Ltd ( (IN:SASKEN) ) just unveiled an announcement.
Sasken Technologies Limited has disclosed that it has paid a standard operating procedure fine imposed by BSE Limited and the National Stock Exchange of India for alleged non-compliance with certain board and committee composition norms under the Listing Regulations. The company stated that the penalty, totaling Rs. 11.28 lakh plus GST, has no material financial or operational impact and emphasized that its board and Stakeholders Relationship Committee compositions have remained in line with regulatory requirements.
Sasken said it remitted the amount within the exchanges’ stipulated timeline while simultaneously contesting the process, noting that its request for a personal hearing was not granted and its application for withdrawal of the penalty was rejected. Reiterating that regulatory compliance is a top priority, the company indicated it believes a personal hearing would have allowed it to better explain its compliance efforts, signaling both its intent to maintain governance standards and its dissatisfaction with the exchanges’ handling of the matter.
More about Sasken Technologies Ltd
Sasken Technologies Limited is an India-based technology company headquartered in Bengaluru that provides product engineering and digital transformation services. It focuses on serving global customers across sectors such as communications, automotive, semiconductor, and enterprise by offering specialized R&D, design, and software development solutions.
Average Trading Volume: 2,391
Technical Sentiment Signal: Hold
Current Market Cap: 15.29B INR
For an in-depth examination of SASKEN stock, go to TipRanks’ Overview page.