Kothari Industrial Corporation informs about disclosure

26 Oct 2021 Evaluate

Kothari Industrial Corporation has informed that the company (along with former Key managerial Personnel) submitted compounding applications with the Registrar of Companies, Chennai under Section 441 of the Companies Act, 2013 (the ‘Act’) for compounding of offence under Sec.96 (1) of the Companies Act, 2013. Company has violated the provisions of sec 96 of the Companies Act 2013 for delay on conduct of AGMs for the financial year 2014-15, 2015-16 and 2016-17. At the hearing held on 15.09.2021, The Regional Director, (Southern Region) Chennai has agreed to compound the offences applied for, subject to payment of compounding fees of Rs 3,00,000, which comprises Rs 1,00,000 for 2014-15, Rs 1,25,000 for 2015-16 and Rs 75,000 for 2016-17) by the Company and Rs 2,50,000 which comprises of Rs 80,000 for 2014-15, Rs 1,00,000 for 2015-16 and Rs 70,000 for 2016-17) by the officer in default. These compounding fees have been paid. The Regional Director, (Southern Region) Chennai issued order dated 20th Day of October, 2021. This is for the information and records and is being intimated in accordance with the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The above information is a part of company’s filings submitted to BSE.

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