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CG-VAK Software & Exports gets imposed with penalty under FEMA

Capital Market 

Receives order of the on 07 December 2017

& announced that the has issued an order dated 04 December 2017 (received by the Company on 07 December 2017) under imposing a penalty of Rs. 14,00,000/- on the Company and Rs. 50,000/- on the Managing Director & CEO of the Company. The offence alleged in, are of technical nature and procedural delays in the matter of submitting certain information. Both Company and MD have decided to pay the penalty.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, December 08 2017. 11:55 IST