Annual Secretarial Compliance Report for March 31, 2025
Awaiting price reaction for this filing.
Inditalia Refcon Ltd filed its Annual Secretarial Compliance Report for FY ending March 2025 through the firm Nisha & Associates. The company's equity shares have been suspended from trading on BSE since 2002, and the company currently reports no business or income. BSE issued an Initial Public Notice on June 24, 2023 proposing the compulsory delisting of the company's physical securities. SEBI imposed penalties totaling Rs. 3 lakhs via an Adjudication Order dated March 26, 2024 for issuance of duplicate physical shares without following proper procedure, which the company paid on May 10, 2024. The board attributed non-compliance with dematerialization rules to financial constraints. The company has now initiated steps to revoke the trading suspension, is in the process of switching its RTA from MUFG Intime to Purva Shareregistry (NOC obtained March 19, 2025), and is working to restore digital connectivity with NSDL and CDSL. New statutory auditors were appointed on December 30, 2023 for FY 2023-24 and FY 2024-25.
This filing reveals a distressed, effectively dormant company whose shares have been suspended for over two decades and which now faces a real risk of compulsory delisting by BSE. For existing shareholders, any chance of trading revival depends entirely on completing dematerialization and clearing outstanding exchange dues.