Akshar Spintex Limited has informed the Exchange about payment of penalty under regulation 17 (1) (c) relating to non constitution of Board of Directors and Regulation 6 relating to non appointment of Qualified Company Secretary.
AKSHAR · price
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On the reaction day the stock moved 3.1 pts less than Nifty Microcap 250 and 2.4 pts less than its Other Textile Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Akshar Spintex Limited has voluntarily paid a penalty of Rs. 5,15,660 (GST inclusive) to BSE Limited for two regulatory violations. First, the company failed to appoint a qualified Company Secretary as a compliance officer for 17 days between September 30 and October 18, 2025, violating Regulation 6(1) of SEBI LODR, resulting in a fine of Rs. 1,000 per day. Second, the company's Board had fewer than the required six directors for 84 days between November 25, 2025, and February 18, 2026, violating Regulation 17(1) of SEBI LODR, resulting in a fine of Rs. 5,000 per day. The actual payment made was Rs. 4,71,960 (with TDS of Rs. 43,700 deducted). The company stated there was no formal instruction from BSE to pay the penalty, and it decided to pay voluntarily for transparency and good governance.
The penalty amount of roughly Rs. 5.2 lakh is relatively small and unlikely to materially impact the company's financials. However, it highlights governance gaps in board composition and compliance staffing. Sustained non-compliance could attract further regulatory scrutiny or trading restrictions.