AIRFLOA RAIL TECHNOLOGY : RECEIVES INTERIM STAY FROM MADRAS HIGH COURT

• The Hon'ble High Court of Judicature at Madras granted an interim stay on adjudication orders imposing penalties under Section 135(7) of the Companies Act, 2013. • The stay is conditional upon the company paying 50% of the penalty amount imposed by the Registrar of Companies within twelve weeks. • The matter pertains to delay in transferring CSR obligations for FY 2019-20, 2020-21, 2021-22 and 2022-23. • The total penalty imposed by ROC was ₹1,05,42,290.00, with the company's share being ₹90,03,968.00 and directors' ₹15,38,322.00. • The penalty on the company was enhanced by the Regional Director in appeal. • Further hearing is scheduled for January 20, 2027. Impact: Neutral (Conditional interim relief granted, awaiting final adjudication)

Airfloa Rail Technology Ltd

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