Annual Secretarial Compliance Report for F.Y. 2024-25
Awaiting price reaction for this filing.
Eros International Media filed its Annual Secretarial Compliance Report for FY ended March 31, 2025, prepared by secretarial auditor C.R. Bhagwat & Associates. The report reveals several compliance lapses during the year. There were delays in filing the Shareholding Pattern (47 days late, Rs. 92,000 fine) and Share Capital Audit Reconciliation. Financial Results filing delays led to suspension of trading in the company's securities w.e.f. December 13, 2024, and freezing of promoter shareholdings. The company also incurred fines of Rs. 15,000 for Board composition issues and Rs. 6,000 each for Audit Committee, Nomination & Remuneration Committee, and Stakeholders Relationship Committee non-compliance. Additionally, SEBI issued a show cause notice in July 2024 related to a pending investigation involving Mr. Sunil Lulla and other directors, with the company having filed an appeal before SAT.
This is a significant negative signal for shareholders — the stock faced trading suspension and the promoter's shares have been frozen due to repeated filing delays and governance lapses. The cumulative penalties (over Rs. 1.3 lakh in fines plus potential action from SEBI investigation) indicate serious governance weaknesses that could weigh on investor confidence and liquidity in the stock.