Annual Secretarial Compliace Report Under Regulation 24A of SEBI (LODR) Regulation, 2015 for year ended on 31st March, 2026
Awaiting price reaction for this filing.
Quasar India Ltd has filed its Annual Secretarial Compliance Report for the year ended March 31, 2026, reviewed by Jay Pandya & Associates, Company Secretaries. The report identifies multiple non-compliances: (1) failure to appoint a qualified Company Secretary as compliance officer under Regulation 6(1), which was also a repeat issue from the previous year; (2) failure to file vacancy of Key Managerial Personnel under Regulation 26A; and (3) Statutory Auditor resignation effective January 31, 2026, though proper procedures were followed. Additionally, SEBI passed an adjudication order on October 31, 2025 regarding alleged price and volume manipulation, and BSE issued an interim order on December 2, 2025 following a site visit at the company's registered office. Both matters are ongoing. An insolvency petition under Section 9 of IBC, 2016 was filed by Bikit Private Limited against the company at NCLT, New Delhi Bench on December 10, 2025, with proceedings ongoing as of March 31, 2026.
The filing reveals significant regulatory concerns including SEBI's adjudication on alleged manipulation, an ongoing NCLT insolvency proceeding, and repeated non-compliance with mandatory governance requirements. These developments pose substantial risks to shareholders and may negatively impact the company's stock performance and market credibility.