Comviva penalised Rs 1 lakh for delay in transferring CSR funds to PM Relief Fund

IT firm Comviva has been fined Rs 1 lakh for the delay in transferring unspent corporate social responsibility obligation to the Prime Minister's National Relief Fund, according to a regulatory filing. The Ministry of Corporate Affairs' Regional Director for the Northern Region ruled against Comviva's appeal and upheld the penalty. The delay was due to technical reasons, and Comviva is in the process of depositing the penalty amount with the Ministry of Corporate Affairs.