Platinum Industries Limited , a company listed on both the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE), has been penalized by the Reserve Bank of India (RBI) for non-compliance with foreign exchange regulations. The company disclosed this information in a regulatory filing on October 28, 2025.

Penalty Details

The RBI's Foreign Exchange Department imposed a fine of Rs 5.38 lakh on Platinum Industries for violating the Foreign Exchange Management Act (FEMA) Regulations, 2004. The specific violation pertained to the company's failure to submit Part I of Form ODI within the prescribed timelines when making an overseas direct investment (ODI) in its subsidiary.

Regulatory Disclosure

In compliance with SEBI regulations, Platinum Industries provided the following details about the RBI order:

Company's Statement

Platinum Industries has stated that the penalty has no material impact on its financial position, operations, or other business activities. The company's management emphasized that this incident does not significantly affect their overall business performance.

Regulatory Compliance

This disclosure by Platinum Industries is in line with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. It demonstrates the company's commitment to transparency in its dealings with regulatory authorities and shareholders.

The incident serves as a reminder of the importance of strict adherence to regulatory timelines and procedures, especially in matters related to foreign investments and exchange regulations. Companies engaging in overseas investments must ensure they fully comply with all FEMA regulations to avoid similar penalties.

Platinum Industries Limited has received a significant boost to its research and development capabilities. The Ministry of Science and Technology, through the Department of Scientific and Industrial Research (DSIR), has granted recognition to the company's In-house R&D Unit located in Palghar, Maharashtra.

Recognition Details

The approval, valid from September 4, 2025, to March 31, 2028, was communicated to Platinum Industries via a letter dated September 16, 2025. The company officially received this notification on September 22, 2025, marking a notable milestone in its pursuit of innovation and technological advancement.

Location and Benefits

The recognized R&D facility is situated at Gut No. 181/11 and 181/26, Village Dhansar, Palghar, Maharashtra. This strategic location is now set to become a hub for the company's research and development activities.

The recognition brings with it several advantages for Platinum Industries:

• Custom Duty Exemptions: The company is now eligible for custom duty exemptions for its R&D facility, as per the terms outlined in relevant government notifications.
• Intangible Benefits: Beyond the tangible financial advantages, the recognition is expected to yield various intangible benefits, potentially enhancing the company's research capabilities and industry standing.

Regulatory Compliance

In adherence to regulatory requirements, Platinum Industries promptly informed the stock exchanges about this development. The disclosure was made in compliance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Market Impact

While the immediate financial impact of this recognition has not been quantified, the approval is likely to strengthen Platinum Industries' position in terms of research and innovation. The custom duty exemptions, in particular, could lead to cost savings in the company's R&D endeavors.

This development underscores Platinum Industries' commitment to enhancing its technological capabilities and maintaining a competitive edge in its industry. As the company leverages this newly recognized R&D unit, stakeholders will be keen to observe how it translates into product innovation and potential market advantages in the coming years.