Regional Director Passes Interim Order in Compounding Case Over AGM Delay for Droneacharya Aerial Innovations Ltd
The Regional Director, Mumbai, passed an Interim Order on July 01, 2026, concerning a compounding application filed by Droneacharya Aerial Innovations Limited regarding the delay in holding its Annual General Meeting (AGM) for the Financial Year ended March 31, 2025.The Interim Order was issued during the ongoing compounding proceedings and mandates the company and concerned officers to comply with the directions specified within the order for further processing of the application. The company is reportedly taking necessary steps to adhere to the directives outlined in the Interim Order.
Details regarding the penalties and fees imposed by the authority were provided, including a total compounding fee amounting to Rs. 2,59,000/- relating to the violation of Section 96 of the Companies Act, 2013. The order was pronounced by the Regional Director, Western Region - II, Mumbai.
The compounding fees are detailed as follows:
| Applicant Name | Compounding Fee Payable (INR) |
|---|---|
| Droneacharya Aerial Innovations Ltd | 76,000/- |
| Prateek Srivastava | 76,000/- |
| Nikita Srivastava | 76,000/- |
| Jayesh Sharad Kulkarni | 31,000/- |
| TOTAL | 2,59,000/- |
The order stipulated that the payment of the compounding fee must be made within 30 days.
During the proceedings reviewed by the Regional Director, several factors were considered for the application related to procedural non-compliance. Factors noted included:
- The act was deemed unintentional.
- For the Financial Year 2024-25, the default period was identified as the delay in holding the AGM after the due date of September 30, 2025, with the meeting being held on November 25, 2025, resulting in a delay of 56 days.
- The financial condition of the company showed a loss of Rs.13,45,62,000 as per the Financial Statements for 2024-25.
Stock Price Movement
Droneacharya Aerial Innovations Ltd shares settled at ₹40.23 on Wednesday, registering a 1.20% decline. The stock traded throughout the day within a range marked by an intraday low of ₹40.00 and a high of ₹41.49.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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