Annual Secretarial Compliance Report under Regulation 24(A) of SEBI (LODR) Regulation 2015,for the Year ended 31-03-2025.
Awaiting price reaction for this filing.
Vas Infrastructure Ltd filed its Annual Secretarial Compliance Report for the year ended 31 March 2025 with BSE. The company is currently under Corporate Insolvency Resolution Process (CIRP), initiated by NCLT Mumbai on 11 March 2024 following a petition by Canara Bank under Section 7 of the Insolvency and Bankruptcy Code, 2016, with Mr. Ashok Kumar Golechha acting as the Resolution Professional. The Practising Company Secretary flagged several non-compliances: the Compliance Officer post stayed vacant for nearly 10 months after the previous CS resigned on 19 January 2024, with a replacement appointed only on 13 November 2024, well beyond the 3-month SEBI deadline; only 2 directors sit on the board as on 31 March 2025 against the minimum 3 required under Section 149 of the Companies Act; and a prior SEBI order dated 16 March 2023 on non-disclosure of share allotments in FY 2009-10 remains under remediation, with sale proceeds deposited in IEPF. The Resolution Professional is signing off on filings on behalf of the company.
Shareholders should note that the company is in active insolvency resolution with a banker-led petition, governance gaps including delayed Compliance Officer appointment and an under-strength board, and an outstanding SEBI penalty against promoters — all of which are negative signals for near-term stock performance and recovery prospects.