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Ceenik Exports India Ltd has informed the stock exchange that it received an Interim Order from the Office of the Regional Director (Western Region), Ministry of Corporate Affairs, under Section 441 of the Companies Act, 2013. The order relates to compounding of default under Section 139 of the Companies Act, concerning non-compliance with appointment/ratification of Statutory Auditors during FY 2015-16 to 2017-18. The order requires the company and its officers in default to initiate steps for compounding the default, subject to final approval of the competent authority. The company has stated it is taking appropriate actions to comply with the directions in the order.
This is a procedural regulatory disclosure relating to a past compliance lapse in auditor appointments between FY 2015-16 and FY 2017-18. The financial impact is expected to be limited, as compounding typically involves payment of prescribed fees. No major operational or financial disruption is indicated.