Indian Sucrose Limited announced that the Board of Directors at their meeting held on August 14, 2023, placed the copy of mail issued by the Securities and Exchange Board of India (SEBI) with respect to penalty imposed for delay in filing of Corporate Governance Report for the year and quarter ended March 31, 2023 under Regulation 27(2) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and for delay in filling of Audited Financial Result for the Quarter and Year ended March 31, 2023 under Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 through reference of SOP Circular no. SEB/HO/CFD/CMD/CIR/P/2020/12 dated January 22, 2020 and affirms that non-compliance of the provision is not mens rea on the part of the Company and it were not intentional rather it was circumstantial. The delay in filling was solely due to non-availability of concerned employees in the particular department and the health issues of senior most officer in the Accounts and finance Department.

Board accepted the contention and communicate to the concerned team to prevent such scenarios in the near future. The delay in filling was solely due to non-availability of concerned employees in the particular department and the health issues of senior most officer in the Accounts and finance Department. Board accepted the contention and communicate to the concerned team to prevent such scenarios in the near future.