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Aditya Ultra Steel Limited faces a ₹1,00,000 fine imposed on Director Varun Manojkumar Jain for non-disclosure of the shareholder list and share transfers during FY 2020-21, violating Section 129 of the Companies Act, 2013. The penalty is solely the Director's responsibility and does not impact the company's financials. Jain has confirmed he will pay the fine promptly. This development is a reminder of the importance of compliance for individual directors and could influence governance perceptions among stakeholders.