Annual Secretarial Compliance report for the FY ended March 31, 2025 issued by Mr. Kundan Agarwal, Practicing Company Secretary.
Awaiting price reaction for this filing.
The Annual Secretarial Compliance Report for FY 2024-25 flags widespread SEBI LODR non-compliances at Visesh Infotecnics Ltd. Annual listing fees to NSE and BSE for FY 2022-23, 2023-24, and 2024-25 remain unpaid, leading to suspension of trading in its shares and freezing of promoters' demat accounts. Custodial charges of about Rs. 1.19 crore to CDSL and NSDL are outstanding, with the depositories blocking the company's Benpos data — which in turn has prevented filing of shareholding patterns for six quarters (Sep 2023 to Mar 2025) and holding of AGMs to approve annual reports for FY 2022-23 and FY 2023-24. The company had no Managing Director or CEO from August 9, 2024 until May 21, 2025. A SEBI order (March 2020) restraining the company from the securities market remains in force, with an unpaid penalty of Rs. 25 lakh plus Rs. 13.25 lakh in interest; the Supreme Court dismissed the review petition in September 2024. NSE has issued a show-cause notice for compulsory delisting, and the company has filed a writ petition in the Delhi High Court against SEBI, depositories, and the exchanges.
This filing highlights severe financial distress and regulatory jeopardy for shareholders. Trading is already suspended and a compulsory delisting process is underway, meaning investors face real risk of losing a liquid market for their shares and further erosion in value. The unpaid SEBI penalty, blocked bank accounts, and pending court matters add to uncertainty about the company's ability to resume normal operations.