Annual Secretarial Compliance Report obtained from Practicing Company Secretary for the financial year ended 31.03.2025 is enclosed.
Awaiting price reaction for this filing.
Neueon Towers (BSE: 532887, NSE: NTL) has filed its Annual Secretarial Compliance Report (ASCR) for FY25, which is a mandatory disclosure under SEBI LODR Reg. 24A. The company is emerging from a long insolvency journey: CIRP was admitted in June 2019, the first resolution plan was rejected in October 2021 and liquidation was ordered, but NCLAT set that aside in June 2023. A fresh resolution plan by PRECA Solutions India Pvt Ltd (via SPV PRECA Structures Pvt Ltd) was approved by NCLT Hyderabad on October 23, 2024. Following this, a new Board was reconstituted on December 2, 2024. The report lists 19 historical compliance deviations under Annexure A, including delayed filings of shareholding patterns, financial results, related-party disclosures, corporate governance reports, and ALF (annual listing fee) payments. Total outstanding SOP fines are Rs 4.09 crore at BSE (incl. GST) and Rs 1.24 crore at NSE; BSE has already withdrawn fines on a revised waiver application dated March 10, 2025. The company has also applied for share capital reduction (face value from Rs 10 to Re 1, shrinking capital from Rs 56.54 crore to Rs 5.65 crore) and reclassification of 9 erstwhile promoters to public category, both awaiting exchange approvals.
Routine compliance filing, but it confirms the new resolution-applicant management is actively working through legacy IBC-era penalties and restructuring steps. For shareholders, the pending share-capital reduction and promoter reclassification could materially change the equity structure and promoter holdings; watch for in-principle approvals from BSE/NSE on these items, which are key triggers for the stock's post-resolution re-rating.