Annual Secretarial Compliance for the year ended 31st March, 2025 given by the Practicing Company Secretary
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Aplab Limited has filed its Annual Secretarial Compliance Report for FY25, which flags multiple non-compliances with SEBI LODR Regulations. The company paid around Rs 18.13 lakh in fines to BSE during the year for various lapses, including Rs 5.80 lakh for delayed submission of audit qualification impact, Rs 5.70 lakh related to women director appointment, Rs 5.48 lakh for passing an ordinary resolution instead of special resolution for re-appointment of a director aged 75+, and smaller amounts for delays in filing voting results, related party disclosures, and the previous year's secretarial compliance report. The promoter demat accounts were temporarily frozen by BSE over unpaid fines, but the freeze was lifted after payment. Several board-level issues remain unresolved, including performance evaluation of the board and insider trading compliance under Reg 3(5) and 3(6).
The report highlights weak corporate governance and repeated compliance lapses, though Aplab has since paid all fines and is rectifying issues such as the composition of its Audit and Nomination & Remuneration Committees (fixed by April 24, 2025). Shareholders should note the ongoing governance concerns and pending items like performance evaluation and insider trading compliance.