Onward Technologies Limited has informed the Exchange regarding 'Intimation under Regulation 30 of SEBI (LODR) Regulations, 2015 '.
ONWARDTEC · price
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Onward Technologies received an Order-in-Original from the Office of the Joint Development Commissioner, SEEPZ-SEZ, Mumbai, imposing a monetary penalty of ₹10 lakhs for delays in filing 270 SOFTEX Forms related to export transactions. The order was received on May 20, 2026. Importantly, the authority has condoned the procedural delays and closed the issue. There are no allegations of export realization failures, fund diversion, misuse of export incentives, or foreign exchange losses. The company has already filed the relevant SOFTEX Forms and states there is no material impact on its operations or financial position. The company is evaluating available legal remedies.
The penalty of ₹10 lakhs is relatively small and unlikely to materially affect the company's financials. The matter has been resolved with delays condoned, which is a positive signal for shareholders despite the regulatory acknowledgment of a compliance lapse.