Annual secretarial compliance Report for the FY ended 31-03-2025 pursuant to Regulation 24A of the SEBI(LODR) Regulation 2015.
Awaiting price reaction for this filing.
Burnpur Cement submitted its Annual Secretarial Compliance Report for FY ending 31 March 2025, prepared by secretarial auditors M & A Associates. Three regulatory deviations were flagged: (1) a 1-day delay in intimating the record date for a corporate action related to the Reduction of Equity Share Capital, (2) the Audit Committee having only 1 Independent Director for 22 days (30 Sep–23 Oct 2024) after the exit of Independent Director Shri Pravez Hayat, for which NSE and BSE each levied a penalty of Rs. 2,69,040, and (3) the Company Chairperson also chairing the Nomination and Remuneration Committee, attracting similar penalties of Rs. 2,69,040 from each exchange. Apart from these, the company complied with secretarial standards, policies, website disclosures, insider trading rules, related party transaction approvals, and event disclosures. The company has no subsidiaries and no director disqualifications were noted.
Total penalties of Rs. 5,38,080 from each exchange (NSE and BSE) have been imposed for governance lapses, though amounts are small relative to a listed entity. Investors should note the ongoing scheme of Reduction of Equity Share Capital and the governance weaknesses in board committee composition, which the management has pledged to rectify.