UTLSOLARFujiyama Power Systems Limited
Fujiyama Power Systems and its two joint managing directors pay a ₹9 lakh penalty in a BIS search case
- Legal
- Renewable Energy
Fujiyama Power Systems Limited has told the exchanges that it received on 13 Oct 2026 at 4:00 PM an order from the Chief Judicial Magistrate, Gautam Buddh Nagar, arising from a search and seizure by the Bureau of Indian Standards (BIS) on 24 Mar 2026 at its facility in Greater Noida, Uttar Pradesh. The disclosure was made on 14 Oct 2026 and continues the company’s intimation of 3 Apr 2026.
The order imposes a penalty of ₹3,00,000 on each of three parties, ₹9,00,000 in all: the company, Mr. Pawan Kumar Garg, Chairman and Joint Managing Director, and Mr. Yogesh Dua, CEO and Joint Managing Director. The company paid its penalty on 14 Oct 2026, and each of the two directors paid theirs in a personal capacity.
The company expects the products seized by BIS, valued at ₹2.52 crore, to be released and the seized inventory to be unfrozen after the payment. It says it will inform the exchanges when it receives the order for release. The penalty does not have a material impact on its financials or operations, which continue as usual.
Inference
The penalty is small, at ₹9 lakh in total, and it has been paid. The seized goods are worth about ₹2.52 crore, which is much more than the penalty, and their release depends on a further order.
The filing does not say what the alleged violation of BIS rules was. The earlier intimation of 3 Apr 2026 is where the search was first reported.
Reference: Original filing (PDF)
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