Airfloa Rail Technology Faces Penalty Hike to ₹34.5 Lakhs

Airfloa Rail Technology Ltd has received revised orders from the Regional Director, Southern Region, Chennai, concerning appeals against adjudication orders for delayed transfer of unspent CSR obligation amounts. The company was initially penalized for financial years 2019-20 to 2022-23. The Regional Director has modified the penalty for FY 2019-20, increasing the company's penalty from ₹17,27,343 to ₹34,54,686, while penalties on the Managing Director and Director remain ₹1,72,734 each. The company believes the penalty is unjustified and plans to appeal to a higher legal forum, stating the order has no material impact on operations beyond the financial penalty.