Details of the Order
The company received an Interim Order on August 4, 2026 from the Regional Director, Western Region-II, Ministry of Corporate Affairs, Mumbai. The order was issued vide letter No. CoA-11025/2026/RD/-WR-II/Yashhtej/717 dated July 30, 2026.
Penalty Imposition
The order imposes a penalty of ₹1,00,000 on the company. Additionally, penalties of ₹20,000 each were imposed on three directors:
- Mr. Suraj S. Barge, Managing Director
- Mr. Baswaraj M. Barge, Director
- Mr. Shivling M. Barge, Director
Nature of Violation
The penalty pertains to procedural non-compliance under Section 140 of the Companies Act, 2013 read with Rule 7 of the Companies (Audit and Auditors) Rules, 2014. The violation relates to the removal and appointment of the statutory auditor and the prescribed filing requirements.
Financial Impact Assessment
The company has stated that it does not reasonably expect the order to have any material financial impact on the company.