Quadrant Future Tek Limited has informed the Exchange about update on Regional Director order
QUADFUTURE · price
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Quadrant Future Tek has filed a writ petition before the Hon'ble High Court of Punjab & Haryana at Chandigarh on May 20, 2026, challenging the Regional Director (Northern Region) order dated January 30, 2026. The order relates to adjudication proceedings 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. The company believes the order is erroneous and states it does not expect material financial impact on day-to-day operations pending the outcome of the writ petition.
Shareholders should note that the company is actively contesting a Rs. 30 lakh penalty plus Rs. 6 lakh per promoter penalty exposure through the Punjab & Haryana High Court. The outcome of this litigation could affect the company's finances depending on whether the writ petition succeeds or fails.