Regulatory9 May 2026, 02:31 pm
Zuari Agro: ₹66 Lakh Penalty for Accounting Non-Compliances
AI Summary
Zuari Agro Chemicals Ltd received four interim orders from the Regional Director, Western Region, Mumbai, regarding alleged non-compliances under Section 129 of the Companies Act, 2013. These relate to accounting disclosures/presentation matters under Indian Accounting Standards and Schedule III for FY 2019-20 to FY 2022-23. The company was not levied with any compounding fees pursuant to the said orders. However, compounding fees totaling ₹66.00 lakhs were levied on Executive Director, Promoter directors, Director, CFO, Ex-Director and Ex-CFO.
Key Highlights
- Zuari Agro received interim orders for alleged non-compliance with accounting standards.
- The violations pertain to disclosures under IND AS-33, IND AS-36, IND AS-37, and Schedule III.
- The company states the non-compliances were unintentional/procedural in nature.
- A compounding fee of ₹66 lakhs was levied on key managerial personnel.
- The company claims no material impact on financials or operations due to the orders.
Price Impact
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