Please find attached intimation under regulation 30 of SEBI LODR 2015 for interim orders received from Regional Director Mumbai
ZUARI · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Zuari Agro Chemicals has received five Interim Orders from the Regional Director, MCA, Mumbai, relating to compounding applications filed under Section 441 of the Companies Act, 2013. The orders address alleged violations of Section 166 (duties of directors) concerning five specific matters: acquisition of Mangalore Chemicals & Fertilizers, impairment of investment in Zuari Farmhub, non-recovery of amount from Zuari Global, a slump sale with Zuari Farmhub, and write-off of loan to Adventz Trading DMCC. The company states there is no material impact on its financials or operations. No compounding fees were levied on the company itself; instead, aggregate fees of Rs. 74.70 lakhs have been levied on the Executive Director, Promoter Directors, and other directors (including former directors).
The company itself faces no financial penalty or operational impact from these interim orders, as compounding fees are levied on individual directors. However, the disclosure highlights past governance-related issues that led to these violations and may attract regulatory or market scrutiny.