TT Limited Receives Fine from Stock Exchanges for Non-Compliance with Listing Regulations

Strategic Insights -

Mumbai's National Stock Exchange of India recently announced that TT Limited has received a fine from the BSE Ltd. and National Stock Exchange of India Ltd. for non-compliance with the requirements of having a non-executive Director under the age of 75. The company had changed the designation of its founder Director, Shri Rikhab Chand Jain, from executive chairman cum Director to non-executive chairman cum Director, which was deemed non-compliant with the regulations. Despite the fine, the company claims there was no malafide or wilful intention.

Key Takeaways:

  • TT Limited received a fine from BSE Ltd. and National Stock Exchange of India Ltd. for non-compliance with the SEBI Listing Regulations.
  • The non-compliance was due to the change in designation of Shri Rikhab Chand Jain, founder Director cum Promoter, from executive chairman cum Director to non-executive chairman cum Director.
  • The company did not have a non-executive Director under the age of 75 at the time of the change in designation.
  • The fine was imposed according to the SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024.
  • The company claims there was no malafide or wilful intention in the non-compliance.
  • The company has requested the Stock Exchange to take the above on record.

Statistics:

  • The fine imposed on TT Limited was not disclosed in the announcement.
  • The fine was imposed under the SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024.
  • The non-executive Director, Shri Rikhab Chand Jain, is 75 years old as of the time of his designation change.
  • The company's designation change resulted in non-compliance with Regulation 17(1A) of the SEBI Listing Regulations.
  • The fine was imposed by BSE Ltd. and National Stock Exchange of India Ltd. on August 29, 2025.

Sources:

  • National Stock Exchange of India Ltd. (August 29, 2025)
  • Securities and Exchange Board of India (SEBI) Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024