BSE and NSE impose ₹4.19 lakh fine each on Genesys International for LODR Regulation 17(1) non-compliance

Regulatory 27 May 2026· ₹8.37 lakh · Ruling· ✓ Verified

Genesys International Corporation Limited received concurrent penalty notices dated 27 May 2026 from BSE Ltd. and NSE for breach of SEBI LODR Regulation 17(1). The breach appears to concern board composition or independence disclosure obligations. Each exchange imposed a penalty of ₹4,18,900 (total ₹8,37,800 across both exchanges). The company disclosed the enforcement action to the stock exchanges via a Regulation 30 notification on 28 May 2026, fulfilling its continuous disclosure obligation.

Why it mattersRegulation 17(1) non-compliance - likely board independence or composition disclosure failure - triggers immediate dual-exchange penalty under SEBI LODR; listed companies must audit board disclosures against SEBI's specific independence criteria and file rectificatory disclosures promptly to avoid compounding enforcement action.
SectorTechnology
Value₹8.37 lakh
[object Object][object Object][object Object][object Object][object Object][object Object][object Object]

Sources

Open in the live tracker →

Related deals