Luxury Time Limited submitted a regulatory disclosure to BSE Limited on August 11, 2026, pursuant to Regulation 30 of the SEBI Listing Regulations and SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.

The company received a Compounding Order dated August 06, 2026, from the Office of the Regional Director (Northern Region-I), Ministry of Corporate Affairs, under Section 441 of the Companies Act, 2013. The order was received by the company on August 11, 2026.

The compounding application was filed by Luxury Time Limited, Mr. Ashok Goel (Chairman & Managing Director), and Mr. Pawan Chohan (Whole-time Director) in respect of default under Section 129 of the Companies Act, 2013. The default concerned non-preparation and filing of consolidated financial statements of its joint venture for five financial years: 2019-20, 2020-21, 2021-22, 2022-23 and 2023-24.

Financial Impact

  • No fine, penalty or compounding fee has been imposed upon Luxury Time Limited pursuant to the order
  • A compounding fee of ₹1,00,000/- for each year of default has been specified for Mr. Ashok Goel (total ₹5,00,000 for five years)
  • A compounding fee of ₹1,00,000/- for each year of default has been specified for Mr. Pawan Chohan (total ₹5,00,000 for five years)
  • The total compounding fee payable by both directors collectively is ₹10,00,000
  • Payment is required to be made within 30 days from the date of the order (by September 05, 2026)
  • The company stated there is no financial impact on the company and no material impact on its operations or other activities

Default Details

The default was characterized as unintentional in nature. The omissions in the Financial Statements for the FYs 2019-20 to 2023-24 have been rectified in the Financial Statements for FY 2024-25. The application was filed suo-moto by the applicants before any notice from the Registrar of Companies.

The maximum punishment prescribed under Section 129 for such offenses could have been imprisonment for up to one year or a fine between ₹50,000 to ₹5,00,000, or both, for each director for each year of default.

The company shall take necessary steps for compliance with the directions contained in the order within the prescribed timeline.