BIS case: INR 3,00,000 penalty each on company and 2 JMDs; seized goods worth INR 2.52 Crores expected to be released
BIS case: penalty paid, seized goods expected to be released.
By ScoutQuest · · 2 min read
- Total penalty imposed
- INR 9,00,000 (INR 3,00,000 each on the Company and two JMDs)
- Value of seized products expected to be released
- INR 2.52 Crores
- Penalty payment date
- Paid on October 14, 2026
BIS action: penalty imposed and paid
- The company has received an order passed by the Ld. Chief Judicial Magistrate, Gautam Buddh Nagar on October 13, 2026 at 16:00 hours.
- The order arises from a search and seizure carried out by the Bureau of Indian Standards (BIS) on March 24, 2026 at the company's facility at Plot No. 51-52, Sector Ecotech-1, Extension-1, Greater Noida – 201310, Uttar Pradesh.
- This is a continuation of the company's earlier intimation dated April 03, 2026 on the same search and seizure.
What the penalty is
- A penalty of INR 3,00,000 has been imposed on each of the following persons, aggregating to INR 9,00,000:
(i) the Company, Fujiyama Power Systems Limited; (ii) Mr. Pawan Kumar Garg, Chairman and Joint Managing Director; and (iii) Mr. Yogesh Dua, CEO and Joint Managing Director.
- The stated violation is non-compliance with the BIS Standard Mark in respect of certain products of the company, in violation of Section 28 of the BIS Act, 2016, as found in the search and seizure.
- The penalty has been paid on October 14, 2026 by the Company and, in their personal capacity, by each of the Joint Managing Directors.
What happens to the seized goods
- Pursuant to the payment of the penalty, the company expects the products seized by BIS, valued at INR 2.52 Crores, to be released and the seized inventory to be unfrozen.
- The company will inform the stock exchanges upon receipt of the order for release of the seized products.
Impact as stated by the company
- There is no financial impact on the Company due to the penalty of INR 3,00,000; the penalty of INR 3,00,000 each on the Joint Managing Directors has been borne by them personally.
- The company states the penalty does not have any material impact on the financials, operations or other activities of the Company, and that operations continue as usual.
How to read this
- A penalty has been imposed and already paid, so the immediate stage of this matter is closed at the company's end.
- The amount paid is small compared with the value of the goods involved: INR 9,00,000 in total penalty against seized products valued at INR 2.52 Crores that are expected to be released.
- The release of the seized products is still expected, and the company has said it will update the exchanges when it receives that order.
Also from Fujiyama Power Systems
Fujiyama Power rose 3% after the company said China curbs will not impact its solar cell project, but the stock later turned negative and analysts recommended staying away
22 Oct 2026
Clarification on China solar cell tech export curbs: plant machinery already delivered, timeline unchanged
21 Oct 2026
Fujiyama Power's board approved an enabling resolution to raise funds via the QIP route
16 Oct 2026
More numbers
- Penalty imposed on each of the Company and two Joint Managing DirectorsINR 3,00,000
- Aggregate penalty on the Company and two Joint Managing DirectorsINR 9,00,000
- Value of products seized by BIS expected to be releasedINR 2.52 Crores
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