Shree Renuka Sugars fined ₹7.5 Lakhs for Auditor Non-compliance

Shree Renuka Sugars Ltd has received a compounding order under Section 441 of the Companies Act, 2013, from the Regional Director (South-Western Region), MCA, Bengaluru. The order pertains to non-compliance with Section 139(1) of the Act concerning the re-appointment of the statutory auditor for the financial years 2014-15 and 2015-16. An aggregate compounding fee of ₹15,00,000 was levied, with the company's share being ₹7,50,000. The company states there is no material impact on its financial, operational, or other activities, with the financial impact limited to the penalty amount.