Biofil Chemicals and Pharmaceuticals Ltd. has settled a regulatory fine of ₹4,24,823.60 levied by BSE Limited, while formally registering its disagreement with the penalty. The fine was imposed for an alleged violation of Regulation 17(1)(c) under SEBI’s Listing Obligations and Disclosure Requirements (LODR), which relates to board composition and governance norms applicable to listed companies.
Despite the payment, the company reiterated that it has challenged the basis of the fine and previously submitted waiver requests to both major stock exchanges—NSE and BSE.
Breakdown of Penalty Charges
| Date of Notice | Fine Amount (₹) |
| August 29 | 95,000.00 |
| November 28 | 2,65,000.00 |
| Total incl. GST | 4,24,823.60 |
Biofil Chemicals confirmed that the amount was remitted on December 2, but clarified that the compliance was made “under protest,” indicating potential further correspondence or appeal.
Financial Position Remains Stable
Despite the regulatory action, the company maintains that the penalty will not affect its operations or financial health. Recent balance sheet figures support that claim, showing year-on-year improvement across key metrics:
| Metric | Current Year (₹ Cr) | Previous Year (₹ Cr) | Growth |
| Total Assets | 51.00 | 47.10 | 8.28% |
| Current Assets | 42.60 | 38.40 | 10.94% |
| Total Equity | 18.80 | 18.20 | 3.30% |
The latest financial data indicates continued balance sheet strength and operational stability.
Compliance Context
The development underscores the heightened regulatory scrutiny faced by publicly listed companies in India. SEBI’s governance framework—particularly Regulation 17(1)(c)—requires companies to maintain proper board structure and independent representation to safeguard corporate governance standards.
While Biofil Chemicals has complied with the payment directive, its decision to contest the penalty suggests the matter may not be fully closed. The company may seek further clarification or relief through regulatory review mechanisms.
Summary
Biofil Chemicals and Pharmaceuticals has paid a ₹4.24 lakh fine imposed by BSE for an alleged SEBI LODR non-compliance but has done so under protest. Financial disclosures show healthy growth across assets and equity, and the company asserts that the penalty does not materially affect its financial condition. The incident highlights the importance of strict compliance with SEBI governance requirements for all listed entities.
Disclaimer:
This article is intended solely for educational and informational purposes. The securities or companies mentioned are provided as examples and should not be considered as recommendations. Nothing contained herein constitutes personal financial advice or investment recommendations. Readers are advised to conduct their own research and consult a qualified financial advisor before making any investment decisions.
Investments in securities markets are subject to market risks. Please read all related documents carefully before investing.