Announced Tue, 11 Aug · 17:58 IST
Compounding order from MCA on delayed JV consolidated filings
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Price reaction · full curve 14 horizons · vs prior close
-0.8%1-day move
₹60.97
prior close
—
base price
After-mkt
timing
5m10m15m30m1D2D3D4D5D7D15D1M2M3M
————-0.8+1.7-8.5-8.5—+10.7—-5.2——
Up moveDown movePending
AI summary
Luxury Time received a Compounding Order from the Ministry of Corporate Affairs Regional Director under Section 441 of the Companies Act for not preparing and filing consolidated financial statements of its joint venture for FY 2019-20 through 2023-24. Chairman Ashok Goel and Whole-time Director Pawan Chohan must each pay Rs 1 lakh per year of default, due within 30 days. No fee is imposed on the company, and defaults have since been rectified in the FY 2024-25 statements.
Likely market impact
Minor personal penalty on two directors, no financial or operational impact on the company. Negligible effect on shareholders.