AIAlfa Ica India530973Regulatory penalty

Board comments on Rs. 9,440 BSE fine for delayed annual report update

Alfa Ica (India) Ltd told BSE that its Board met on November 7, 2026 and reviewed the penalty for not update the Annual Report for the year ended March 2026 within the prescribed period under Regulation 34.

By ScoutQuest · Sat 7 Nov 2026, 4:28 PM IST · 2 min read

Fine Levied

₹9,440/- (inclusive of GST @ 18%)

Fine Break-up

basic fine of 8000, GST @ 18% of 1440

Payment Reference

BSER07518 via UTR No. SBIN426310278355 dated 06/11/2026

What the company told the exchange

Alfa Ica (India) Ltd has submitted to BSE the comments and observations of its Board of Directors on the company's non-compliance with Regulation 34 of SEBI (LODR) Regulations, 2015. Regulation 34 covers the submission of the Annual Report within the prescribed period. The lapse relates to the year ended March 2026.

The matter was placed before the Board at its meeting held on November 7, 2026.

What the BSE letter said

• The applicable regulation was Regulation 34, with non-submission of the Annual Report within the period prescribed; the compliance status shown is Delayed Submission for the year ended March 2026.
• The basic fine prescribed is Rs. 2,000/- per day till the date of compliance.
• The fine levied was a basic fine of 8000, GST @ 18% of 1440, and a total fine payable of 9440.
• The same letter also listed Regulation 43A (non-disclosure of the Dividend Distribution Policy in the Annual Report and on the websites of the entity), where the fine levied for the same year is shown as 0.
• The company was asked to pay the fine including GST within 15 days of the letter dated October 30, 2026.

What the Board recorded

• The Board took formal note of the fine of ₹9,440/- (inclusive of GST @ 18%) levied under Regulation 34.
• It noted that the penalty amount has been remitted to BSE's designated virtual bank account (BSER07518) via UTR No. SBIN426310278355 dated 06/11/2026.
• It reviewed the reasons for the delay in update the Annual Report and expressed concern over the procedural lapse.
• It advised the management and compliance team to exercise diligence, strengthen internal tracking mechanisms and adhere strictly to regulatory timelines to prevent a recurrence.

What BSE flagged as possible consequences

• If the fine including GST was not paid within 15 days from the date of the letter, the Exchange would, under the circular, initiate action related to freezing of the entire shareholding of the promoter in the entity as well as all other securities held in the demat account of the promoter.
• The letter also stated that in the event of this being the second consecutive year of non-compliance for Regulation 34, it would result in the company being transferred to the Z group and liable for suspension of trading of its equity shares.

How to read this

This is a compliance update rather than a business development. The update records that a penalty has been levied and, per the Board, paid, and that the Board has directed corrective steps. The stated reasons for the delay concern procedural/internal tracking issues. The penalty amount itself is modest in absolute terms, and the disclosure is about process and follow-up action rather than about operations or earnings.

Nothing here is a view, opinion or recommendation of ScoutQuest, its parent, directors or employees. ScoutQuest is a technology company: this page was assembled automatically from public sources using artificial intelligence, and may contain errors or omissions. Confirm everything against the original source before you act on it. Any use of this page is at your own risk, and neither ScoutQuest nor its parent, directors or employees accepts liability for it.

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