Gokak Textiles was fined by BSE for not meeting the required composition for its Board and Nomination & Remuneration Committee.

The Board reviewed the matter, noting the non-compliance was not willful and that the fine has already been paid.

Crucially, the company has since achieved compliance with all board and committee composition requirements.

The Board has directed management to take proactive steps to fill future vacancies in advance, aiming to prevent similar issues and reinforce corporate governance.