News ArticleAvenue Supermarts Limited Penalized Rs.55.75 Lakh by Gujarat International Finance Tec-City Company for Project Delay
Company reports no material operational impact following penalty imposed for missing prescribed project completion timeline
Avenue Supermarts Limited received a penalty of Rs.55.75 lakh from Gujarat International Finance Tec-City Company Limited for non-compliance with project completion timelines, with no material impact on company operations reported.
Avenue Supermarts Limited
Legal / Regulatory
Avenue Supermarts Limited has been fined Rs.55.75 lakh by the Gujarat International Finance Tec-City Company Limited for failing to meet the prescribed project completion timeline. The company stated the penalty will not materially affect its operations.
The penalty notice was received on 26th October 2026 from the Gujarat International Finance Tec-City Company Limited, citing non-compliance with project completion deadlines.
The financial impact of the penalty is limited to the imposed amount of Rs.55.75 lakh with no additional consequences on the company’s operational activities.
The disclosure was made in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, ensuring transparency regarding regulatory actions against the company.
Highlights
- Penalty amount: Rs.55.75 lakh
- Authority: Gujarat International Finance Tec-City Company Limited
- Reason: Non-compliance with project completion timeline
- Date of receipt: 26th October 2026
- No material impact on company operations
Key Data Snapshot
What happened
- Avenue Supermarts Limited was penalized Rs.55.75 lakh by Gujarat International Finance Tec-City Company Limited.
- The penalty was imposed for not complying with the prescribed project completion timeline.
- The company received the penalty notice on 26th October 2026.
Financial performance
- The financial impact is confined to the penalty amount of Rs.55.75 lakh.
- No other financial or operational effects are reported by the company.
Regulatory and governance context
- Disclosure made under Regulation 30 of SEBI (LODR) Regulations, 2015.
- The penalty is related to project execution timelines governed by Gujarat International Finance Tec-City Company Limited.
Highlights
- Penalty amount: Rs.55.75 lakh
- Authority: Gujarat International Finance Tec-City Company Limited
- Reason: Non-compliance with project completion timeline
- Date of receipt: 26th October 2026
- No material impact on company operations
Disclosures
- SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
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