Shree Digvijay Cement Company Limited (ISIN: INE232A01011) has received partial relief in its appeal against penalties imposed by the Registrar of Companies (ROC) for non-compliance with beneficial ownership filing requirements. The Regional Director, North-Western Region, Ministry of Corporate Affairs, Ahmedabad, has partially allowed the company's appeal, resulting in a significant reduction of the total penalty amount.

Key Developments

• The Regional Director's order, dated 1st December 2025, dropped penalties amounting to Rs. 8,48,400 under Section 90(4A) of the Companies Act, 2013.
• Penalties totaling Rs. 4,50,000 under other sections were maintained.

Penalty Details

The violations were related to the non-filing of BEN-1 and BEN-4 forms concerning the shareholding of Votorantim Cimentos EAA Inversiones S.L., the company's erstwhile holding company. The penalties, as per the Regional Director's order, are summarized in the following table:

Impact and Company's Response

Shree Digvijay Cement has stated that there is no material impact on the company's financial operations or other activities. The company is considering exploring further available remedies against the order, as some of its contentions were not fully considered by the appellate authority.

Background

The non-compliance issue arose from changes in the company's ownership structure. Effective from 16 April 2019, Votorantim ceased to be a promoter of the company following the acquisition of majority shares by the current promoter, True North Fund VI LLP, pursuant to a Share Purchase Agreement dated 12 November 2018.

This development underscores the importance of timely compliance with regulatory requirements, particularly during ownership transitions. It also highlights the potential for companies to seek relief through the appeals process when faced with regulatory penalties.

Investors and stakeholders of Shree Digvijay Cement should take note of this regulatory development, as it demonstrates the company's engagement with regulatory processes and its potential impact on financial obligations.

The Competition Commission of India (CCI) has granted approval for two significant transactions involving Shree Digvijay Cement Company Limited , marking a pivotal moment for the cement manufacturer's strategic plans.

Key Approvals

The CCI has approved two major transactions:

1. A distribution agreement between Shree Digvijay Cement and Hi-Bond Cement Private Limited
2. India Resurgence Fund's proposed acquisition of shares in Shree Digvijay Cement

Distribution Agreement Details

The approved distribution agreement includes:

• Exclusive long-term cement distribution rights for Shree Digvijay Cement
• An option for Shree Digvijay Cement to acquire 100% equity shares of Hi-Bond Cement

This strategic move may strengthen Shree Digvijay Cement's market presence and distribution capabilities.

Regulatory Process

The approval process involved:

• A joint application filed with the CCI
• Application filed under sub-section (2) of Section 6 of the Competition Act, 2002
• CCI's approval granted in its meeting
• Approval provided under Section 31(1) of the Competition Act

Implications

The CCI's approval clears regulatory hurdles for both transactions, potentially paving the way for:

• Enhanced distribution network for Shree Digvijay Cement
• Possible future acquisition of Hi-Bond Cement
• Strategic investment by India Resurgence Fund in Shree Digvijay Cement

These developments could impact Shree Digvijay Cement's market position and growth strategy in the cement industry.

Investors and industry observers may keep a close watch on how these approved transactions unfold and their potential impact on the cement market dynamics.