Honeywell Automation India Limited has informed the Exchange regarding 'Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015'.
HONAUT · price
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Honeywell Automation India told the exchanges that it received warning emails from NSE and BSE on April 1, 2025, for disclosing a US tax notice late. The original notice from the US Internal Revenue Service (Houston) in February 2024 was about a $84,016.03 fine for not filing forms related to Affordable Care Act (ACA) health insurance given to its project assignees in the US for FY 2020. The company says it delayed the intimation because it took time to hear back from its US team and get legal advice. The IRS notice is appealable and the company plans to file an appeal. The exchanges have warned it to be more careful with future disclosures or face stricter action, but no monetary penalty has been imposed.
This is a procedural warning from the stock exchanges, not a financial penalty or stock-specific action. The underlying IRS matter has a small financial impact (about $84,000) and the company intends to appeal, so the long-term effect on shareholders is likely limited.