Penalty Imposed on Ginni Filaments Limited Reversed by Appellate Authority
Ginni Filaments Limited has received an order setting aside a significant penalty previously imposed upon it, resolving the matter relating to Rs 10,00,000/- that had been disclosed in March 2025. The appeal filed by the company with the Special Director (Appeals), FEMA, Kolkata, was allowed and the adjudication order has been overturned.The original penalty of Rs 10,00,000/- had been imposed by the Deputy Director, ED, FEMA, Lucknow Zonal Office. Ginni Filaments Limited subsequently appealed this decision.
The Appellate Authority reviewing the case noted that the company made genuine efforts regarding the realization of export proceeds. Consequently, the penalty previously levied against the company has been deleted.
With this ruling, the matter concerning the Rs 10,00,000/- penalty is now resolved, marking a final conclusion to the issue first disclosed by the company in March 2025.
GINNIFILA Stock Price Movement
Shares of Ginni Filaments Limited are edging higher to ₹49.93 as of 12:34 PM today, gaining 0.87% in live trading. The stock trades on a robust volume of 171,302 shares during the Live Market session.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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