Intimation of payment of penalty under regulation 17 (1) c relating to Non constitution of Board of Directors and regulation 6 relating to non-appointment of Company secretary
AKSHAR · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Akshar Spintex Ltd voluntarily paid a penalty to BSE for two SEBI LODR violations. First, the company failed to appoint a qualified Company Secretary for 17 days between September 30 and October 18, 2025, violating Regulation 6(1). Second, the board had fewer than six directors for 84 days between November 25, 2025 and February 18, 2026, violating Regulation 17(1). The total penalty calculated was Rs. 5,15,660 including GST. The company paid Rs. 4,71,960 on May 13, 2026 after TDS deduction of Rs. 43,700. Notably, BSE had not issued a formal instruction for this payment - the company chose to pay voluntarily for transparent governance practice.
Minor governance issue with relatively small financial impact of under Rs 5 lakh. However, the back-to-back violations over several months indicate ongoing weakness in corporate governance compliance, which may concern investors about internal controls.