Tax & Penalty27 Oct 2026, 07:40 pm
Samvardhana Motherson fined ₹35.93 Lacs by RBI
AI Summary
Samvardhana Motherson International Limited has disclosed a penalty of ₹35,93,334 (₹35.93 Lacs) imposed by the Reserve Bank of India (RBI). The penalty was levied upon the company's suo-motto compounding application for contraventions related to the non-submission and registration of bonus shares allotted in 2007 to non-resident/foreign shareholders under the Foreign Exchange Management Act, 1999. The company stated that this action has no material impact on its financials, operations, or other activities.
Key Highlights
- RBI imposes ₹35.93 Lacs penalty on Samvardhana Motherson.
- Penalty relates to non-submission of bonus shares to foreign shareholders.
- Contravention falls under the Foreign Exchange Management Act, 1999.
- Company confirms no material financial or operational impact.
Price Impact
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