Panacea Biotec Limited announced that the National Stock Exchange of India Ltd. and BSE Ltd. have, vide their notice /email dated July 1, 2024, imposed a fine of INR 11,800 each (inclusive of GST) for non-compliance with the provisions of Regulation 29(2)/29(3) of SEBI LODR Regulations, that is requirement of prior intimation of the Board Meeting in which the matter relating to passing over of dividend was to be discussed. The Company has clarified to the Stock Exchanges that the said Board Meeting of the Company was held on May 30, 2024, for inter-alia approving the audited financial results of the Company (wherein the passing over of dividend was also considered as a part of agenda item for approval of audited financial results for the financial year ended March 31, 2024) and prior intimation of such Board Meeting was submitted with the Stock Exchanges on May 13, 2024 and the outcome of the Board Meeting was also submitted with the Stock Exchanges on May 30, 2024 wherein the decision regarding passing over of dividend was also communicated. Moreover, there was no separate agenda item for declaration or passing over of dividend for the financial year ended March 31, 2024 and accordingly this item was inadvertently missed out from the communication dated May 13, 2024 submitted with Stock Exchanges as above.