Intimation of the board of directors'' comments on the fine levied by the Bombay Stock Exchange for delayed submission of the corporate governance compliance report within the prescribed period under regulation 27(2) of SEBI (LODR)

Date: 15th September 2026 BSE Limited Department of Corporate Services, Phiroze Jeejeebhoy Towers, Dalal Street, Fort, Mumbai - 400 001 Scrip Code: 539228 Dear Sir/Ma’am, Sub.: Board Comments on the fine levied by the Bombay Stock Exchange Limited Pursuant to the SEBI Master Circular No. SEBI Circular No. HO/49/14/14(7)2025-CFD- POD2/I/3762/2026 (“Master Circular”) issued on July 11, 2023 and last updated on January 30, 2026, we wish to inform you that an email received from the Bombay Stock Exchange (BSE) dated 25th August, 2026, concerning a delay in compliance, was placed before the Board of Directors at its meeting held on September 12, 2026. The Board reviewed the matter regarding the delayed submission of corporate governance compliance report within the period prescribed under this Regulation 27(2) of SEBI Listing Regulations, for the quarter ended June 30, 2026. The Board noted that the delay in the subject submission was entirely unintentional and occurred due to delay in receipt of the relevant data, on account of which the compliance could not be completed within the prescribed timeline and was submitted with a delay of one day. Consequently, the formal submission was delayed by a marginal period. The Board clarified that this issue arose due to purely administrative and procedural reasons, and not on account of any wilful default or lapse on the part of the Company. Further, the company has already paid the fine of ₹2,000 plus 18% GST (total amounting to ₹2,360) as levied by the BSE. The Board reaffirms its ongoing commitment to maintaining the highest standards of corporate governance and compliance. You are requested to kindly take the same on your record Thanking you FOR GALA GLOBAL PRODUCTS LIMITED VISHAL MULCHANDBHAI GALA Director DIN: 00692090 9/15/26, 11:22 AM Gmail - 539228-Fines as per SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 issued on July 11, 2023 … CS gala <cs.gala2003@gmail.com> 539228-Fines as per SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 issued on July 11, 2023 and last updated on January 30,2026 (Chapter VII (A)-Penal Action for Non- Compliance) 2 messages bse.soplodr <bse.soplodr@bseindia.com> Tue, Aug 25, 2026 at 7:05 PM To: "inf.galaglobal@gmail.com" <inf.galaglobal@gmail.com>, "cs.gala2003@gmail.com" <cs.gala2003@gmail.com>, "csvandanabaldi@gmail.com" <csvandanabaldi@gmail.com> Cc: "bse.soplodr" <bse.soplodr@bseindia.com> Ref.: SOP-CReview/ QTR-Jun-26 The Company Secretary/Compliance Officer Company Name: Gala Global Products Ltd Scrip Code: 539228 Dear Sir/Madam, Sub: Fines as per SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 issued on July 11, 2023 and last updated on January 30,2026 (Chapter VII (A)-Penal Action for Non-Compliance). The company is advised to refer to the SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 issued on July 11, 2023 and last updated on January 30,2026 issued by Securities and Exchange Board of India (SEBI) with respect to penal actions prescribed for non-compliance of certain provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and the Standard Operating Procedure for suspension and revocation of trading of specified securities of listed entities. The Exchange had also issued a guidance note regarding the provisions of the said SEBI circular which is disseminated on the Exchange website at the following link: https://www.bseindia.com/downloads1/Guidance_Note_for_SEBI_SOP_Circular.pdf In this regard it is observed that the company is non-compliant/late compliant with the following Regulations for the period mentioned below: Applicable Regulation Fine Fines levied till the Fine payable by the company as on August of SEBI (LODR) prescribed quarter ended 25,2026 Regulations, 2015 (inclusive of GST @ 18 %) Basic Fine GST @ 18 Total Fine % payable Regulation 17(1) Rs. 5,000 June 2026 0 0 0 per day Non-compliance with the requirements pertaining to the composition of the Board including failure to appoint woman director Regulation 17(1A) Rs. 2,000 June 2026 0 0 0 per day Non-compliance with the requirements pertaining to https://mail.google.com/mail/u/0/?ik=dbc6b7b587&view=pt&search=all&permthid=thread-f:1874502568512815429&simpl=msg-f:1874502568512… 1/4 9/15/26, 11:22 AM Gmail - 539228-Fines as per SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 issued on July 11, 2023 … appointment or continuation of Non- executive director who has attained the age of seventy-five years Regulation 17(2) Rs. 10,000 June 2026 0 0 0 per instance Non-compliance with the requirements pertaining to the number of Board meetings Regulation 17(2A) Rs. 10,000 June 2026 0 0 0 per instance Non-compliance with the requirements pertaining to quorum of Board meetings. Regulation 18(1) Rs. 2,000 June 2026 0 0 0 per day Non-compliance with the constitution of audit committee Regulation 19(1)/ 19(2) Rs. 2,000 June 2026 0 0 0 per day Non-compliance with the constitution of nomination and remuneration committee Regulation 20(2)/(2A) Rs. 2,000/- June 2026 0 0 0 per day Non-compliance with the constitution of stakeholder relationship committee Regulation 21(2) Rs. 2,000/- June 2026 0 0 0 per day Non-compliance with the Constitution of risk management committee Regulation 27(2) *Rs. 2,000/- June 2026 2000 360 2360 per day Non-submission of the (Late submission) Corporate governance compliance report within the period provided under this regulation Total 2000 360 2360 (*) As per the provisions of the circular the fines will continue to be computed further till the time of rectification of the non-compliance to the satisfaction of the Exchange or till the scrip of the listed entity is suspended from trading for non- compliance with aforesaid provisions. The Company is therefore advised to note that as per the provisions of this circular: · The company is required to ensure compliance with above regulation and ensure to pay the aforesaid fines including GST within 15 days from the date of this letter/email, failing which Exchange shall, pursuant to the provisions of the aforesaid circular, initiate action related to freezing of the entire shareholding of the promoter in this entity as well as all other securities held in the demat account of the promoter. https://mail.google.com/mail/u/0/?ik=dbc6b7b587&view=pt&search=all&permthid=thread-f:1874502568512815429&simpl=msg-f:1874502568512… 2/4 9/15/26, 11:22 AM Gmail - 539228-Fines as per SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 issued on July 11, 2023 … · Further in the event of this being the second consecutive quarter of non-compliance for the Regulation 17(1), 18(1), 27(2) would result in the company being transferred to Z group and liable for suspension of trading of its equity shares. · The company is also advised to ensure that the subject matter of non-compliance which has been identified and indicated by the Exchange and any subsequent action taken by the Exchange in this regard shall be placed before the Board of Directors of the company in its next meeting. Comments made by the board shall be duly informed to the Exchange for dissemination. For the Companies to whom Regulation 15 (2) of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015, is not applicable, a certificate from the Company Secretary/Compliance Officer of the company, certifying that Paid up equity capital was not exceeding Rs.10 Crores and Net worth was not exceeding Rs.25 Crores as on the last day of the previous three consecutive financial year is required to be submitted to the Exchange. Companies are required to mention the exact paid up equity capital and net worth figures in this certificate. Provided that where the provisions of the regulations specified in the regulation becomes applicable to a listed entity at a later date, such listed entity shall comply with the requirements of those regulations within six months from t [Showing first 8,000 characters — download PDF for full document]