Annual Secretarial Compliance Report 2024-25 is enclosed.
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Andrew Yule & Company Ltd submitted its Annual Secretarial Compliance Report for the year ended March 31, 2025, as required under SEBI LODR Regulation 24A. The report flags two key non-compliances: (1) the Board lacks the required number of Independent Directors and has no Women Director, leading BSE to impose a fine of Rs. 4,55,000 plus 18% GST (Rs. 81,900), totalling Rs. 5,36,900 — the company has applied for a waiver; and (2) the company does not meet the 25% Minimum Public Shareholding norm, with promoter holding at 89.25% and public holding at 10.75%. However, a Ministry of Finance notification dated July 19, 2024 extends the MPS compliance deadline to August 1, 2026 for listed PSUs. The management attributes both issues to being a Central Public Sector Enterprise under the Ministry of Heavy Industries, where director appointments and shareholding changes depend on government directives. Other compliance areas, including secretarial standards, policies, website disclosures, insider trading, and related party transactions, were found to be satisfactory.
Shareholders should note the ongoing board composition lapses and the BSE penalty, though the company is contesting the fine and is constrained by its PSU status. The low public float remains a structural concern but is temporarily waived by the government until August 2026. No major new operational risk for retail investors, but governance deficiencies warrant monitoring.