RoC imposes about Rs 19 lakh penalty on Himalayan Solar for private placement violations
HIMALAYAN · price
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Registrar of Companies, Haryana has passed two adjudication orders against Himalayan Solar imposing total penalties of about Rs 19 lakh for non-compliance with Section 42 of the Companies Act, 2013, related to private placements during FY2015-16 and FY2016-17. The company faces about Rs 15 lakh in penalties, while two former directors, Deepak Agarwal and Sahana Mahalinga Laksmi, face about Rs 2 lakh each personally.
Adverse regulatory action; the financial penalty is moderate but reflects past compliance lapses in fund-raising that may concern investors.