Tax & Penalty14 May 2026, 03:42 pm
Akshar Spintex Pays ₹5.16 Lakh Penalty to NSE for LODR Violations
AI Summary
Akshar Spintex Ltd. faced penalties from the National Stock Exchange of India (NSE) for non-compliance with SEBI LODR Regulations 17(1)(c) and 6, related to the constitution of the Board of Directors and appointment of a Company Secretary. The company's waiver applications were rejected by the NSE, leading to a penalty of ₹5,15,660. The company paid the penalty on May 13, 2026, as advised by NSE. The violations include a delay of 17 days in appointing a qualified Company Secretary and an 84-day delay in ensuring the proper composition of the Board.
Key Highlights
- NSE imposed a penalty on Akshar Spintex for non-compliance with SEBI LODR Regulations.
- The penalty totals ₹5,15,660 for violations of Regulations 6 and 17(1).
- Akshar Spintex's waiver applications for the penalties were rejected by NSE.
- The company paid the penalty on May 13, 2026, following NSE's advice.
- Violations include delays in appointing a Company Secretary and constituting the Board.
Price Impact
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