Annual Secretarial Compliance Report For the year 2025-26
Awaiting price reaction for this filing.
Prabhat Technologies filed its Annual Secretarial Compliance Report for the year ended March 31, 2026, as required under SEBI LODR Regulation 24A. The report, issued by Practicing Company Secretary M/s Shekhawat & Associates, identified four non-compliances: (1) No qualified Company Secretary appointed as Compliance Officer under Regulation 6(1), (2) delayed filing of quarterly financial results for Q1, Q2, and Q3 of FY 2025-26 under Regulation 33, (3) delayed submission of previous year's secretarial compliance report under Regulation 24A, and (4) non-filing of Annual Report/AGM for FY 2024-25 under Regulation 34. The company also has an outdated website. Management attributed all non-compliances to the Corporate Insolvency Resolution Process (CIRP), which concluded with Resolution Plan approval on October 16, 2025. Previous non-compliances regarding delayed listing fees and depository charges have since been resolved.
The non-compliances are attributed to the ongoing CIRP under IBC, which suspended the Board and transferred powers to the Resolution Professional. With the resolution plan now approved, the new management is in the process of reconstituting the Board and compliance framework. The stock may see near-term pressure from governance concerns, but progress on resolving past violations signals improving compliance culture post-resolution.