Tax & Penalty24 Jul 2026, 01:29 pm
Automotive Stampings fined for delayed Company Secretary appointment
AI Summary
Automotive Stampings and Assemblies Ltd (ASAL) has commented on the fine levied by stock exchanges for a delay in appointing a Company Secretary. The non-compliance with Regulation 6(1) of SEBI LODR Regulations for the quarter ended March 31, 2026, was attributed to practical constraints, including a candidate's notice period. The Board acknowledged the issue at its meeting on July 24, 2026, noting that the appointment of Mr. Krishna Dayma was made effective March 13, 2026. ASAL has paid the fine and GST, and the management has been advised to strengthen internal controls to prevent future occurrences.
Key Highlights
- Company fined for delay in Company Secretary appointment.
- Non-compliance due to practical hiring constraints.
- Fine paid; management to enhance internal controls.
- Appointment made effective March 13, 2026.
Price Impact
More from ASAL