Reply to BSE which was pending/ Missed to BSE, The Query raised from NSE accordingly reply to NSE on 12-07-2024
AHLUCONT · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Ahluwalia Contracts clarified to BSE about a non-compliance with SEBI (LODR) Regulation 21(3C), which requires Risk Management Committee meetings to be held with no more than 180 days between them. The company's RMC meetings were held on 13-02-2023 and 10-11-2023, a gap of 270 days, breaching the 180-day rule. NSE had issued a warning letter on 9th July 2024 regarding this lapse. The company stated the delay in informing the stock exchange about the warning letter was unintentional and inadvertent, and committed to ensuring compliance going forward.
This is a governance and regulatory compliance lapse that may concern investors about the company's internal controls, though no financial penalty or business impact is mentioned. The regulatory warning from NSE and delayed disclosure reflect weak compliance culture, which could weigh on investor sentiment and prompt closer scrutiny of future filings.