Annual Compliance Certificate under Regulation 24A
Awaiting price reaction for this filing.
Poddar Housing has filed its annual Secretarial Compliance Report for the year ended March 31, 2024, certified by Practicing Company Secretary Shivam Agarwal. The report flags that as on March 31, 2024 the company had only 4 directors, making the Board composition non-compliant with SEBI LODR Regulation 17(1), and its Audit, Nomination & Remuneration, and Stakeholders Relationship Committees were also not properly constituted under Regulations 18, 19 and 20. BSE and NSE levied multiple SOP fines (totalling over ₹43 lakh) for repeated delays in submitting audited and quarterly financial results for March 2023, June 2023 and September 2023, as well as late filings of voting results, shareholding pattern, shareholder complaints and related-party transaction disclosures. Promoter demat accounts were also frozen by the exchanges due to repeated filing delays, though the company eventually completed all delayed submissions.
Negative for shareholders — the report highlights serious and repeated governance and disclosure lapses, including a non-compliant Board, multiple stock exchange penalties, and freezing of promoter demat accounts, signalling weak compliance controls that may affect investor confidence and prompt further regulatory scrutiny.