India Cements Receives Compounding Order from Reserve Bank of India
The India Cements Limited, a subsidiary of UltraTech Cement Limited, has announced that it received a Compounding Order dated May 15, 2026, from the Foreign Exchange Department, Reserve Bank of India, Chennai.The Compounding Order was issued under Section 15(1) of the Foreign Exchange Management Act, 1999. The order mandates the payment of a compounding amount totaling Rs. 18,250/-.
The action pertains to a delay in filing of Form FC-TRS, which was issued in terms of Regulation 10 read with Paragraph 10 of Schedule 1 to Foreign Exchange Management (Transfer or Issue of Security by a Person Resident Outside India) Regulations, 2000.
Key details regarding the directive from the Foreign Exchange Department, Reserve Bank of India, Chennai, are summarized below:
| Particulars | Details |
|---|---|
| Authority | Foreign Exchange Department, Reserve Bank of India, Chennai |
| Date of Order | May 15, 2026 |
| Nature of Order | Compounding Order passed for paying a compounding amount |
| Compounding Amount | Rs. 18,250/- |
| Violation Cited | Delay in filing of Form FC-TRS |
| Financial Impact | The order does not have any material financial impact on the Company |
In assessing the situation, the India Cements Limited noted that the received order does not carry any material financial impact on the Company’s operations or activities.
INDIACEM Stock Price Movement
On Friday, The India Cements Limited shares edged higher, closing at ₹400.15 after gaining 1.78% for the day. The stock settled at this level amid a significant trading volume of 170,358 shares.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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