Quadrant Future Tek penalised for 2016-17 private placement lapse, says no material impact

An announcement from Quadrant Future Tek Limited ( (IN:QUADFUTURE) ) is now available.

Quadrant Future Tek Limited has disclosed that the Regional Director, Northern Region, has issued an order in connection with an appeal related to procedural non-compliance in a 2016-17 private placement of shares to promoters. The non-compliance arose from the company’s failure to open and use a separate bank account for share application money before allotment, as required under Section 42 of the Companies Act, 2013.

The company had voluntarily filed an adjudication application with the Registrar of Companies to regularize the lapse, which led to proceedings and an appeal before the Regional Director. Under the order dated 30 January 2026, the earlier penalty under Section 42(10) has been set off, and a fresh penalty totaling Rs. 30 lakh on the company and Rs. 6 lakh on each promoter has been imposed, subject to confirmation of the exact quantum by the RoC.

Quadrant Future Tek has stated that the penalties, which relate to historical fund-raising activities, will not have any material effect on its current operations. The disclosure is made under securities listing regulations and is intended to update investors and regulators about the resolution of this legacy compliance matter.

More about Quadrant Future Tek Limited

Quadrant Future Tek Limited is an Indian company listed on the NSE and BSE, operating from Mohali, Punjab. The company raised capital in fiscal 2016-17 through a preferential allotment of equity shares to its promoters by way of private placement under the Companies Act, 2013.

Average Trading Volume: 173,642

Technical Sentiment Signal: Strong Sell

Current Market Cap: 11.63B INR

Learn more about QUADFUTURE stock on TipRanks’ Stock Analysis page.