TBO Tek Limited announced it has received an order from the Special Director (Adjudication), Directorate of Enforcement. The order, dated October 16, 2026, imposes a penalty amounting to INR 22,21,63,535 on the company and INR 2,46,84,837 on each Joint Managing Director. The company is currently examining the order and assessing its legal recourse.
Enforcement Directorate Order Issued to TBO Tek
TBO Tek Limited has been served with an order by the Special Director (Adjudication), Directorate of Enforcement. The order, received on October 16, 2026, pertains to adjudication proceedings under the FEMA regulations. This development follows an “Emphasis of Matter” noted in the Statutory Auditors’ Report.
Penalty Details and Company’s Response
The order imposes a significant penalty on the company, totaling INR 22,21,63,535. Additionally, each of the Joint Managing Directors has been levied a penalty of INR 2,46,84,837. These penalties are in connection with alleged contraventions of Section 3(c) read with Section 42(1) of the Foreign Exchange Management Act, 1999.
TBO Tek Limited is actively reviewing the order and is in the process of evaluating the available courses of action in consultation with its legal counsel. Further details regarding the violation(s) and the financial impact are being assessed.
Disclosure and Availability
The company has made this disclosure as per Regulation 30 of the Listing Regulations. Comprehensive details of the order, as required under Regulation 30 and the Master Circular, are provided in Annexure-A. This disclosure is also accessible on the company’s website at https://www.tbo.com/engagement/investors/#StockExchangeSubmission.
Source: BSE
