Subsidiary ESL Steel receives show cause notice from RoC over FY19 disclosure
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ESL Steel, a subsidiary of VISL, received a show cause notice from the Registrar of Companies, Ranchi on August 6, 2026. The notice relates to alleged non-disclosure of director remuneration ratio details in the FY 2018-19 Corporate Governance Report, under Section 197(15) of the Companies Act 2013. Proposed penalty is Rs 5 lakh on ESL and Rs 1 lakh on ex-CFO Jalaj Kumar Malpani. ESL will respond to the adjudicating authority. VISL states this will not have significant financial or operational impact.
Minor regulatory matter for subsidiary ESL with a small Rs 5 lakh penalty. Company says no material financial or operational impact on VISL.