Annual Secretarial Complaince Report for the year ended 31.03.2025 under regulation 24(A) of LODR 2015
Awaiting price reaction for this filing.
Atlas Jewellery India Ltd has filed its Annual Secretarial Compliance Report, which reveals severe and widespread non-compliances with SEBI LODR Regulations for FY 2024-25. The company currently has no functioning Board of Directors — the sole promoter died in October 2022, and shareholders have approached NCLT, New Delhi for appointment of new directors. As a result, the company failed to submit quarterly/half-yearly/annual financial results, did not hold the required number of Board Meetings, could not constitute mandatory Board committees, and did not file shareholding pattern or Corporate Governance Reports on time. Additionally, NSDL and CDSL have withheld BENPOS data due to non-payment of annual custodian charges. A SEBI order from June 2021 regarding minimum public shareholding remains uncomplied with — the open offer is still pending because there is no identifiable promoter. Annual listing fees to BSE are in arrears, BSE has frozen the company's assets (via DOE), and BSE has issued an initial public notice dated 06.05.2024 for compulsory delisting. The statutory auditor resigned in June 2023 and no replacement has been appointed.
This is an extremely negative filing for shareholders. The company is effectively non-functional, facing compulsory delisting proceedings, asset freezes, pending regulatory action from SEBI, and unresolved promoter succession issues. Investors should treat this stock as very high risk with a real possibility of delisting and total loss of value.