Afcons Infrastructure Limited has disclosed the receipt of a penalty order imposing a fine of ₹1.84 crores from the Tehsildar, Thane, Maharashtra. The penalty stems from alleged irregularities concerning earth excavation and removal activities related to the MML5 project in the Balkum area. The company intends to contest this order and is preparing to file an appeal before the competent authority.
Regulatory Disclosure Regarding Penalty Order
Afcons Infrastructure Limited issued a formal disclosure on March 21, 2026, concerning a regulatory action received from the local revenue authority. The company confirmed that it received a penalty order from the Tehsildar, Thane, Maharashtra, following an inquiry into the company’s operations.
Details of the Imposed Penalty
The core of the action relates to alleged irregularities observed during earth excavation and removal activities conducted by the company in the Balkum area, specifically associated with the MML5 project. The resultant penalty imposed is quantified at ₹1.84 crores. The official communication regarding this order was received by the company on March 18, 2026.
It should be noted that the delay in publicly disclosing this information was attributed to the need for translation of the original document from Marathi to English to fully ascertain the facts before reporting.
Financial Impact and Management Response
Regarding the financial implications, the company stated in its enclosure that there is no financial impact on operations at this stage. Furthermore, the Board and management have confirmed their intention to vigorously dispute the findings. The company is actively taking appropriate procedural steps to file an appeal before the competent authority to contest the levied penalty.
The company confirmed that there are no ongoing litigation cases involving key management personnel or promoters that are directly related to the same proceedings.
Source: BSE
