Annual Secretarial Compliance Report for the year ended 31st March, 2025.
Awaiting price reaction for this filing.
Starlit Power Systems Ltd has filed its Annual Secretarial Compliance Report for FY2024-25, reviewed by Practicing Company Secretary Parul Agrawal & Associates. The report flags several non-compliances: the company's website is not updated as required under SEBI LODR Regulation 46, the Structured Digital Database (SDD) software mandated under Insider Trading Regulations has not been set up, and the mandatory quarterly Corporate Governance Report under Regulation 27 has not been filed with the stock exchange for the last two quarters. Additionally, the Managing Director has not been appointed and key board committees (Audit, Nomination & Remuneration, etc.) have not been constituted, and Secretarial Standards related to board meeting notices and minutes were not fully followed. The statutory auditors also resigned during the year. No monetary fines have been imposed yet, and the management has acknowledged the gaps and committed to improving compliance.
Multiple SEBI LODR and Insider Trading compliance gaps, missing board committees, and an absent Managing Director point to weak corporate governance that could invite regulatory scrutiny, penalties, or action from the stock exchange, which is a negative signal for shareholders.