Announcement under Regulation 30 of SEBI (LODR), 2015 - Update on Regional Director Order
QUADFUTURE · price
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Quadrant Future Tek Limited has filed a writ petition before the Hon'ble High Court of Punjab and Haryana at Chandigarh on May 20, 2026, challenging the Regional Director (Northern Region) order dated January 30, 2026. The order relates to adjudication proceedings initiated by the Registrar of Companies concerning private placement compliance under Section 42 of the Companies Act, 2013. The Regional Director upheld a penalty under Section 42(6) while setting aside penalty under Section 42(10). The quantifiable financial exposure is Rs. 30 Lakhs on the Company and Rs. 6 Lakhs on each promoter, subject to the outcome of the writ petition. The company states it does not expect any material impact on day-to-day operations while the matter is pending.
Shareholders should note that while a legal challenge has been filed, a financial penalty exposure of Rs. 30 lakhs (company) and Rs. 6 lakhs per promoter remains pending. The outcome will depend on the High Court's decision on the writ petition.