Annual Secretarial Compliance Report
Awaiting price reaction for this filing.
Solana Biofuels Limited (formerly Southern Online Bio Technologies Limited) has submitted its Annual Secretarial Compliance Report for the year ended March 31, 2026, issued by Practicing Company Secretaries M/s P.S. Rao & Associates. The report covers compliance review under Regulation 24A of SEBI LODR Regulations, examining various SEBI regulations including the Prohibition of Insider Trading Regulations, Depositories Act, and Secretarial Standards. The company has reported NIL deviations or violations across all checked areas including related party transactions, insider trading compliance, disclosure requirements, and preservation of documents. However, the report includes a notable note that the company has not complied with the minimum public shareholding requirement as mandated under Section 19(2) of the Securities Contracts (Regulation) Rules, 1957. No penalties or actions taken by SEBI or stock exchanges were reported.
The company has maintained good secretarial and regulatory compliance for FY 2025-26, but the non-compliance with minimum public shareholding norms remains an outstanding regulatory concern that could invite further scrutiny or penalties from SEBI or the stock exchanges.