Annual Secretarial Compliance Report for the year ended March 31, 2025
Awaiting price reaction for this filing.
Prabhat Technologies (India) Ltd has filed its Annual Secretarial Compliance Report for FY2024-25, prepared by Practicing Company Secretary Monika Shekhawat. The company is under Corporate Insolvency Resolution Process (CIRP) since the NCLT Mumbai order dated October 10, 2019, with Mr. Rajendra K. Bhuta as Resolution Professional. The report flags several continuing non-compliances: no qualified Company Secretary appointed as Compliance Officer, delayed payment of annual listing fees to BSE, delayed payment of depository (CDSL/NSDL) fees for FY 2024-25, and Independent Directors not registered on the Independent Directors Data Bank. The company's website was also found not updated. Trading in the company's equity shares has been suspended by BSE since January 20, 2024.
This filing highlights serious and recurring governance and compliance failures at Prabhat Technologies, which is already under insolvency and whose shares are suspended from trading. Shareholders should note the company's distressed status, ongoing CIRP since 2019 with no clear resolution, and the pattern of repeated non-compliance, which significantly raises the risk profile and casts doubt on near-term recovery of shareholder value.