Please find enclosed Secretarial Compliance Report under regulation 24A of the SEBI (LODR) Regulations, 2015 for the year ended March 31, 2025.
ASHOKA · price
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Ashoka Buildcon has filed its annual Secretarial Compliance Report for FY25, confirming overall compliance with SEBI LODR Regulations, except for one minor delay. The company submitted its NCD proceeds utilization statement 29 days late (due February 10, 2025, submitted March 11, 2025) for the December 2024 quarter, attracting a BSE fine of Rs. 29,000 plus GST (Rs. 34,220 total). The company has applied for a waiver, noting the funds were fully used for the intended purpose with no deviation. During the year, Ashoka Buildcon issued three NCDs totaling Rs. 300 crore (maturing April 2026) and had a Rs. 200 crore commercial paper limit, all CPs redeemed on time. All other governance checks — director qualifications, related-party approvals, insider trading, website disclosures, subsidiary identification, and board evaluations — were marked compliant.
The compliance lapse is minor and financial in nature, with the company already seeking a waiver. No material governance red flags were identified, and timely debt repayments support credit comfort. Shareholders are unlikely to see a meaningful stock reaction given the small fine size and one-off explanation from management.