The Gujarat Industrial Development Corporation (GIDC) has reduced Kalpataru Projects International Limited’s aggregate penalty to Nil. This follows a second corrigendum order received on December 6, 2025. The initial penalty, related to alleged non-fulfillment of ground coverage construction requirements, had already been reduced to INR 0.44 crore plus applicable GST and now has been entirely waived.
Penalty Waived by GIDC
Kalpataru Projects International Limited announced that the Gujarat Industrial Development Corporation (GIDC) has fully waived the penalty initially levied for alleged non-fulfillment of ground coverage construction requirements. This decision follows a second corrigendum order.
Background of the Penalty
Initially, a penalty amounting to INR 0.44 crore plus applicable GST was levied by GIDC. This penalty was related to an alleged non-fulfillment of the requirement of ground coverage construction. The company had previously communicated about this penalty on November 14, 2025 and January 2, 2024. The penalty was then reduced to Nil after a corrigendum order from GIDC. Now the penalty has been fully removed with a second corrigendum order.
Order Details
The second corrigendum order was received by the Company on December 6, 2025, at approximately 06:27 P.M. (IST). This announcement is being submitted on the first working day after receipt of the order, confirming the full reduction of the penalty to Nil.
Source: BSE
