Annual Secretarial Compliance Report for the Financial Year ended 31st March, 2025
Awaiting price reaction for this filing.
Gujarat Fluorochemicals Limited (NSE: FLUOROCHEM, BSE: 542812) has submitted its Annual Secretarial Compliance Report for FY2024-25, filed on 16th May 2025 by practicing company secretaries M/s Samdani Shah & Kabra. The report flags one non-compliance: during 13th August 2024 to 24th March 2025, the Board composition did not meet the requirement under Regulation 17(1)(b) of SEBI LODR Regulations, which mandates at least half the Board to be Independent Directors when the chairperson is a promoter. With 5 Independent Directors out of 11 total Directors after the appointment of a Whole-time Director, the company fell short. Both NSE and BSE imposed a fine of Rs. 2,89,100 each (including GST), which the company paid on 18th March 2025. After a Whole-time Director's resignation on 24th March 2025, the Board became compliant again (5 Independent Directors out of 10). All other compliance parameters — secretarial standards, policies, website disclosures, insider trading, related party transactions, and performance evaluation — were marked compliant with no additional non-compliances observed.
This is a routine annual compliance filing with no material impact on shareholders. The board composition lapse was temporary, fully resolved by March 2025, and the fine amount (~Rs. 5.78 lakh total) is negligible relative to the company's size. No action is required from investors.