IT firm Tech Mahindra Group agency Comviva has been penalised Rs 1 lakh for the delay in transferring unspent company social accountability obligation to the Prime Minister’s Nationwide Aid Fund, as per a regulatory submitting.
The Ministry of Company Affairs’ Regional Director for the Northern Area has dominated in opposition to an attraction filed by Comviva in opposition to the order of the Registrar of Corporations, which imposed a penalty of Rs 1 lakh on the corporate for the delay.
In line with the submitting, there was an inadvertent delay attributable to technical causes within the switch of the quantity unspent in relation to the Company Social Duty (CSR) obligation for the FY ended March 31, 2021, to the Prime Minister’s Nationwide Aid Fund inside the prescribed interval of 6 months of the expiry of the monetary 12 months as per the Corporations Act, 2013.
“Penalty of Rs 1,00,000 has been imposed on Comviva Applied sciences Restricted (Comviva) in reference to the attraction filed by Comviva earlier than Hon’ble Regional Director, Northern Area, in opposition to the adjudication order of the Registrar of Corporations, NCT Delhi and Haryana dated Could 17, 2023,” Tech Mahindra mentioned in a submitting on Saturday.
Comviva is within the means of depositing the penalty quantity with the Ministry of Company Affairs, the submitting mentioned.
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