Pursuant to Regulation 30 of SEBI(LODR), Regulations, 2015, we hereby inform you that the Company has received an Adjudication Order from the SEBI dated 11.03.2026.
FEDDERSHOL · price
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Fedders Holding Ltd (earlier IM+ Capitals Limited) has received a SEBI Adjudication Order dated March 11, 2026, imposing a monetary penalty of Rs. 4,00,000 each on the Company and its Whole Time Director Vishal Singhal. The order covers violations of SEBI ICDR Regulations (162A on monitoring agency) and SEBI LODR Regulations (32(1) on statement of deviation, plus principles 4(1)(d), 4(1)(g), 4(1)(h) and 4(2)(f)). Key issues were delays of 281, 190, 97 and 6 days in submitting quarterly monitoring agency reports for the year 2023, and failure to promptly appoint a new monitoring agency after CARE Ratings terminated its agreement in October 2023. The Company had tried to settle the matter but the settlement application was rejected for not filing revised terms. Total outgo is around Rs. 8 lakh (combined penalty) and the Company has stated there is no material impact on its operations.
The penalty of Rs. 4 lakh on the Company is small and not material to operations or financials. However, the order flags weak governance around monitoring of issue proceeds and timely disclosures, which may dent investor confidence and warrants attention from shareholders tracking compliance quality.