Akshar Spintex pays ₹4.71 lakh penalty for SEBI non-compliance
Akshar Spintex voluntarily paid a penalty of ₹4,71,960 to BSE for violating SEBI LODR regulations related to board composition and compliance officer appointment. The total fine including GST was ₹5,15,660, reduced by TDS of ₹43,700. The payment was made on May 13, 2026, via NEFT without formal instruction from the exchange.
*this image is generated using AI for illustrative purposes only.
Akshar Spintex Limited has voluntarily paid a penalty of ₹4,71,960 to the Bombay Stock Exchange (BSE) for non-compliance with SEBI regulations. The company disclosed that while it received no formal payment instruction from the exchange, the management decided to make the payment to ensure transparent and good governance practices. The payment was made on May 13, 2026.
Non-Compliance Details
The penalties relate to violations of Regulation 6 and Regulation 17(1) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company failed to appoint a qualified Company Secretary as a compliance officer for a period of 17 days between September 30, 2025, and October 18, 2025. Additionally, the board composition fell below the requirement of six directors for 84 days from November 25, 2025, to February 18, 2026.
Penalty Breakdown
The total penalty amount, including GST, was calculated at ₹5,15,660. However, the final payment of ₹4,71,960 was made after a Tax Deducted at Source (TDS) deduction of ₹43,700. The fines were levied based on the duration of the delays.
| Regulation | Violation Period | Delay Duration | Fine Rate | Fine Amount (excl. GST) |
|---|---|---|---|---|
| Regulation 6 | September 30, 2025 to October 18, 2025 | 17 days | ₹1,000 per day | ₹17,000 |
| Regulation 17(1)(c) | November 25, 2025 to February 18, 2026 | 84 days | ₹5,000 per day | ₹4,20,000 |
Payment Status
The company discharged the obligation on May 13, 2026. The disclosure, signed by Harikrushna S. Chauhan, Chairman cum Whole Time Director, confirmed that the payment was made via NEFT transaction reference SIBLE00066131478. The company noted that it has not received any formal correspondence from BSE regarding these penalties prior to this voluntary payment.
Historical Stock Returns for Akshar Spintex
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| 0.0% | -2.17% | -4.26% | -16.67% | -23.73% | -89.23% |
Will Akshar Spintex's voluntary penalty payment positively influence SEBI's or BSE's assessment of the company's governance track record in future compliance reviews?
How might the prolonged board composition shortfall impact Akshar Spintex's ability to attract qualified independent directors and strengthen its corporate governance framework going forward?
Could repeated compliance lapses related to Regulation 17(1) expose Akshar Spintex to stricter regulatory scrutiny or enhanced monitoring by SEBI in upcoming quarters?
20
Access Market Heat-map & Insights 
Create, Save & Share your Screener 
Use 200+ Screening Filters 
