Annual Secretarial Compliance Certificate for the financial year ended 31st March, 2025
AARTECH · price
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Aartech Solonics Limited filed its Annual Secretarial Compliance Report for the financial year ended March 31, 2025, as required under Regulation 24(A) of SEBI LODR Regulations. The report, issued by APVN & Associates (Practicing Company Secretaries), confirms the company complied with most SEBI regulations, secretarial standards, insider trading rules, and disclosure requirements. One non-compliance was flagged: the company delayed starting trading of its bonus shares by 8 days beyond the 2-month deadline under Regulation 295(1) of SEBI ICDR Regulations, as the Board approved the bonus issue on June 20, 2024, but trading only began around August 27, 2024 instead of by August 19, 2024. Both BSE and NSE levied a penalty of Rs. 188,800 each (inclusive of Rs. 28,800 GST), which the company has since paid to both exchanges. No other non-compliances, director disqualifications, or material subsidiary issues were observed, and the statutory auditor did not resign during the year.
The compliance lapse is minor, already remediated, and financially small (about Rs. 3.78 lakh total penalty) relative to the company. Shareholders face no ongoing concern from this disclosure, though it signals past weakness in tracking bonus issue timelines.