In a recent development, Bombay Metrics Supply Chain Limited has received a penalty of Rs. 25,833 from the Reserve Bank of India (RBI). This penalty is related to a delay in filing Form FC-GPR under the provisions of the Foreign Exchange Management Act, 1999 (FEMA). The filing was meant to report the issue of bonus shares to foreign residents. The penalty was imposed after an application for compounding the violation was submitted by the company. The delay pertains to the filing of FC-GPR that was due for the bonus shares issued on March 30, 2021.

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According to the company’s disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, the penalty is imposed for the delayed filing of the Foreign Currency-Gross Provisional Report (FC-GPR), a critical compliance document required under FEMA. This penalty is an outcome of the non-compliance with the timely filing rules under the Reserve Bank of India’s guidelines.

Despite this penalty, Bombay Metrics has clarified that the financial, operational, and other business activities of the company have not been affected. The Rs. 25,833 penalty is relatively minor, and the company has assured its stakeholders that this will not impact its future operations or financial performance. This development, while noted, does not suggest any significant financial risk to the company.

The penalty came after Bombay Metrics sought compounding for the delay in the filing, which was a process to seek leniency and avoid further regulatory actions. The company has disclosed all relevant details regarding this matter in compliance with the SEBI Listing Regulations and has made this information available on its official website, www.bombaymetrics.com.

The imposition of this penalty, while important in terms of compliance, does not appear to present any major operational disruptions for Bombay Metrics. The company continues its activities in the supply chain sector, and its day-to-day operations are unaffected by this minor regulatory issue.

For stakeholders, investors, and market enthusiasts, it is essential to stay updated on the latest developments concerning Bombay Metrics as well as other industry-related news. In the context of ongoing regulatory compliance, it is advisable to keep an eye on the company’s official disclosures and updates.

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