Final compounding order from MCA for non-filing of JV financials; no company fee
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 0.8 pts less than Nifty Microcap 250 and 0.9 pts less than its Gems, Jewellery And Watches peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
Minute windows have no benchmark: there is no intraday index history to compare against.
Luxury Time received a final compounding order from MCA's Regional Director under Section 441 of the Companies Act for non-preparation and filing of consolidated financial statements of its joint venture across five financial years (FY 2019-20 to 2023-24). Two directors, Ashok Goel and Pawan Chohan, each paid Rs 1 lakh per year of default (total Rs 5 lakh each) as compounding fees. The company itself pays no fee. The omissions have been rectified in FY 2024-25 financials. No material impact on operations or financials.
No financial impact on the company. Minor compliance issue fully settled. Negligible effect on shareholders.