Stock Exchanges are herby informed that, the Company had filed Compounding Application with the RBI for delay in fillings for Regulation 5(2) read with Regulation 6 and Regulation 16 respectively, of Foreign Exchange Management (Transfer or Issue of any Foreign Security) Regulation 2004 pertaining to its WOS, Shemaroo Entertainment Ltd. LLC.
In this regard, the Company has received an Order dated September 26, 2023 from RBI, Foreign Exchange Department wherein the Company has been directed to pay a sum amounting to Rs. 2.29 lakh for compounding of the above mentioned delay. The Company will deposit the payment within the prescribed timeline.
|