Airfloa Rail Technology Legal & Regulatory
Airfloa Rail received a Madras High Court interim stay on CSR penalties under Section 135(7). Conditional relief requires paying 50% of the ROC penalty within twelve weeks.
- Value
- ₹1.05 Cr
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Airfloa Rail received a Madras High Court interim stay on CSR penalties under Section 135(7). Conditional relief requires paying 50% of the ROC penalty within twelve weeks.
Airfloa Rail Technology received revised regulatory orders enhancing penalties for CSR non-compliance. The company intends to challenge these penalties in the High Court of Madras.
Airfloa Rail Technology received an order from the Regional Director, Chennai, enhancing a monetary penalty to approximately ₹1.8 crore regarding CSR transfers.
The Regional Director dismissed Airfloa Rail's appeals and enhanced penalties for delays in transferring unspent CSR funds for FY 2019-20 to 2022-23.