VIJI FINANCE faced fines of Rs. 1,35,700 each from BSE & NSE for alleged non-compliance with board composition rules, specifically for having fewer than six directors.

The company has paid these fines under protest, asserting no wrongdoing, and plans to seek a waiver/review from the exchanges.

Management believes there will be no material financial or operational impact beyond the initial fine payment, as they are actively challenging the levy.