Announcement under regulation 30 (LODR) 2015 regarding imposition of fine for delay in appointment of women director
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Akar Auto Industries Ltd has been fined Rs. 1,45,000 by BSE for failing to appoint a woman director within the required timeframe, violating SEBI Regulation 17. The company stated the delay was due to the time needed to identify and finalize a suitable candidate. The fine (plus 18% GST) must be paid by 10th June, 2026. The company has since appointed a woman director and claims to have complied with the applicable provisions. BSE had issued the penalty notice dated 27th May, 2026.
The financial impact is minimal at Rs. 1.45 lakh, but it signals weak corporate governance compliance. This could concern investors about internal controls and may attract regulatory scrutiny on other compliance areas.