# Patel Chem Specialities Asks BSE to Waive ₹1,22,720 Fine for Annual Report Filing Lapse

> Patel Chem Specialities has asked BSE to waive a ₹1,22,720 penalty for a Regulation 34 filing lapse, citing an inadvertent error in its annual report upload.

- Published: 2026-11-07T07:04:26+00:00
- Section: Regulation & Approvals
- Author: News Desk
- URL: https://newsforagent.com/news/2026-11-07/patel-chem-specialities-bse-fine-waiver
- Source: [ScanX](https://scanx.trade/stock-market-news/companies/patel-chem-specialities-seeks-waiver-1-23-lakh-bse-fine-filing-lapse/55578461)

## Key takeaways

- Patel Chem Specialities requested a waiver of the ₹1,22,720 fine BSE imposed for non-compliance with SEBI Regulation 34.
- The company said the annual report was uploaded on time and an inadvertent error occurred in selecting the financial year parameter.
- The Board directed management to strengthen internal compliance monitoring to prevent a recurrence.

[Patel Chem Specialities](https://akta.pro/company-profiles/0003tl8/patel-chem-specialities) has asked the Bombay Stock Exchange to waive a ₹1,22,720 fine imposed for non-compliance with Regulation 34 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, [ScanX](https://scanx.trade/stock-market-news/companies/patel-chem-specialities-seeks-waiver-1-23-lakh-bse-fine-filing-lapse/55578461) reported on November 7, 2026. The Ahmedabad-based maker of pharmaceutical excipients, listed on [BSE](https://akta.pro/company-profiles/000283q/bse) in 2025, said the delay in filing its annual report was inadvertent and not intentional.

## Patel Chem Specialities Cites Filing Error

Patel Chem Specialities said it received notices dated October 30, 2026 and took corrective steps immediately to ensure compliance. The company said the annual report was uploaded on the BSE Listing Centre within the prescribed timeline and that an inadvertent error occurred while selecting the financial year parameter during the filing. It said the discrepancy was limited to that technical selection and did not affect the contents, completeness or timeliness of the report.

The matter was placed before the Board of Directors, which took note of the non-compliance and the fine. The Board decided to apply for a waiver, arguing that the requisite compliance had been completed within the prescribed timeline despite the initial error. The Board expressed concern over the lapse and advised management to strengthen internal compliance monitoring so that statutory and regulatory filings are made on time and the issue does not recur. Regulation 34 requires listed entities to file annual reports within specified timelines, and failure to do so attracts monetary penalties from stock exchanges.

## Patel Chem Specialities' Listing and Scale

Patel Chem Specialities was founded in 2008 and manufactures and exports seven branded pharmaceutical excipients, including cellulose ethers, superdisintegrants, fillers and lubricants, along with Sodium Chloro Acetate, according to akta.pro [company records](https://akta.pro/company-data). The same records list its headcount in the 51-100 range and its revenue estimate at $10 million to $25 million. The company filed its final prospectus on July 29, 2025, after a red herring prospectus dated July 16, 2025 and a draft red herring prospectus dated December 30, 2024, to list under ticker BSE:544460.

## Earlier Filings and Plant Expansion

On November 2, 2026, ScanX reported that BSE fined Patel Chem Specialities ₹1,22,720 for alleged non-compliance with Regulation 34 over the FY26 annual report, with the company saying the report was uploaded on time and citing an inadvertent error in selecting the financial year parameter. On October 6, 2026, ScanX reported that the company expanded its Talod plant capacity from 720 MT to 4,500 MT per annum, a sixfold increase, through capital expenditure of about ₹20 crore funded by loans and accruals, with trial batches commenced and commercial production expected shortly. On September 15, 2026, ScanX reported that the company fixed September 18, 2026 as the record date for shareholder eligibility for remote e-voting at its Annual General Meeting scheduled for September 25, 2026.

## Patel Chem Specialities' Waiver Request

The company said it is in the process of submitting a clarification to BSE seeking waiver or reconsideration of the fine, and that the matter has no impact on its financial position or operations.

## Companies in this story

- [Patel Chem Specialities company profile](https://akta.pro/company-profiles/0003tl8/patel-chem-specialities) · website: https://www.pcspl.net
- [BSE company profile](https://akta.pro/company-profiles/000283q/bse) · website: http://www.bseindia.com

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