Comviva Fined Rs 1 Lakh for CSR Fund Delay

By By Rediff Money Desk, NEWDELHI
Dec 02, 2023 22:28
Comviva, a Tech Mahindra subsidiary, was penalized Rs 1 lakh for a delay in transferring unspent CSR funds to the PM Relief Fund, as per a regulatory filing.
Photograph: Amit Dave/Reuters
New Delhi, Dec 2 (PTI) IT company Tech Mahindra Group firm Comviva has been penalised Rs 1 lakh for the delay in transferring unspent corporate social responsibility obligation to the Prime Minister's National Relief Fund, as per a regulatory filing.

The Ministry of Corporate Affairs' Regional Director for the Northern Region has ruled against an appeal filed by Comviva against the order of the Registrar of Companies, which imposed a penalty of Rs 1 lakh on the company for the delay.

According to the filing, there was an inadvertent delay due to technical reasons in the transfer of the amount unspent in relation to the Corporate Social Responsibility (CSR) obligation for the FY ended March 31, 2021, to the Prime Minister's National Relief Fund within the prescribed period of 6 months of the expiry of the financial year as per the Companies Act, 2013.

"Penalty of Rs 1,00,000 has been imposed on Comviva Technologies Limited (Comviva) in connection with the appeal filed by Comviva before Hon'ble Regional Director, Northern Region, against the adjudication order of the Registrar of Companies, NCT Delhi and Haryana dated May 17, 2023," Tech Mahindra said in a filing on Saturday.

Comviva is in the process of depositing the penalty amount with the Ministry of Corporate Affairs, the filing said.
Read More On:
comvivatech mahindracsrcorporate social responsibilitypm relief fund
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.

You May Like To Read

MORE NEWS

Commodities Prices Today

Thursday's commodities prices in Bengaluru. Find rates for rice, jowar, jaggery,...

ICICI Prudential AMC Pre-IPO: Rs 4,815 Cr Raised

ICICI Prudential AMC raises Rs 4,815 cr in pre-IPO funding from 26 investors. IPO opens...

Aster DM: Rs 120 Cr for Cancer Treatment

Aster DM Healthcare invests Rs 120 cr to set up 5 cancer treatment centers for...

Indowind Energy Rights Issue Oversubscribed

Indowind Energy's rights issue oversubscribed by 1.04 times, raising ₹49.43 crore....

Kshema Power Bags Substation Order

Kshema Power secures order for 33 kV/220 kV AIS power substation for a 350 MW...

Alembic Pharma Gets USFDA Nod for Eye Treatment

Alembic Pharmaceuticals receives USFDA approval for generic Loteprednol Etabonate &...

Equity Mutual Funds Rebound: Rs 29,911 Cr Inflows

Equity mutual funds see a 21% rise in inflows to Rs 29,911 crore in November. AUM...

India-Canada Ties: Envoy Meets Canadian Officials

Indian envoy to Canada meets with Canadian officials to enhance bilateral ties,...

Chennai Bullion Rates Today

Opening bullion rates in Chennai on December 11th. Check gold and silver prices per...

Choppy Stock Market: Sensex, Nifty Fluctuate

Indian stock markets open positive but turn choppy amid mixed global cues. Sensex and...

Read More »

Sectoral Indices Market Indicators Listed Companies Gainers Losers Mutual Funds Portfolio Watchlist
© 2025 Rediff.com