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TMI Blog2020 (1) TMI 377X X X X Extracts X X X X X X X X Extracts X X X X ..... nyu Mhapankar, Advs. for the Respondent. ORDER Misc. Application No. 567 of 2019 : 1. For the reasons stated in the application, the delay in filing the appeal is condoned. Appeal No. 531 of 2019 : 1. The present appeal has been filed against the order of Bombay Stock Exchange Ltd. (hereinafter referred to as, 'BSE') dated August 19, 2019 and October 7, 2019 whereby a total penalty o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ations. The said circular also provided a discretion to the stock exchange to deviate from the circular dated May 3, 2018 under exceptional circumstances only after recording reasons in writing. Thus, flexibility and discretion was provided to the stock exchange for levying penalties for non-compliance of the Listing Regulations. 3. The exceptional circumstances indicated a list of events which c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Composition of BOD including appointment of woman Director 460000 18(1) Constitution of Audit Committee 184000 18(1) Constitution of Audit Committee 184000 19(1)/19(2) Constitution of nomination and remuneration Committee 184000 20(2) Constitution of Stakeholder relationship Committee 184000 20(2) Constitution of Stakeholder relationship Committee 184000 6(1) Appointment of qual ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... pellant has violated various provisions of the Listing Regulations. The limited prayer made before us was that due to unforeseen events, the stock exchange should have taken the events as a mitigating factor to waive or reduce the quantum of penalty. In this regard, we find that the exceptions carved out in the circular dated May 3, 2018 relates to certain events which in the instant case was not ..... X X X X Extracts X X X X X X X X Extracts X X X X
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