Annual Secretarial Compliance Report for the financial year ending March 2025
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The company filed its Annual Secretarial Compliance Report for FY ended March 31, 2025, prepared by practicing company secretary S.P. Ranjan. Two ongoing non-compliances were flagged: (1) failure to maintain a Structured Digital Database (SDD) under SEBI's Prohibition of Insider Trading Regulations, and (2) the Compliance Officer/Company Secretary position has been vacant since December 9, 2024, with no replacement appointed. The report also revisits FY 2022-23 non-compliances — late filing of shareholding pattern, investor complaint statements, and corporate governance reports — which attracted BSE fines totaling around Rs 28,792 that remain unpaid. Consequently, BSE froze the DMAT account of promoter and MD Mr. Atul Singh Tyagi. Most other areas — secretarial standards, policies, website, director eligibility, related party transactions — are reported as compliant.
This is a negative governance signal. Unresolved SEBI compliance failures, unpaid exchange fines, a frozen promoter DMAT account, and a vacant compliance officer role may concern investors and could weigh on the stock's risk profile.