Annual Secretarial Compliance Report for the year ended March, 2025
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Associated Ceramics Limited has submitted its Annual Secretarial Compliance Report for the year ended March 31, 2025, as required under SEBI's Listing Regulations. The company was found to have largely complied with SEBI rules, except for delays in appointing a new Independent Director following the death of Mr. Binod Kumar Suhasaria, which led to BSE fines of Rs. 1,70,000 plus GST under Regulation 17(1) and Rs. 68,000 plus GST under Regulation 19(1)/(2). Both fines have been paid. The company also redeemed 6,009 10% Preference Shares at Rs. 6,000 each (totalling about Rs. 4.71 crore) across two tranches in September 2024 and February 2025, though the Form PAS-6 filing for one tranche was delayed and the other is still pending. Some Independent Director database registrations were also found to be missing or expired.
The filing is routine but flags governance lapses — small paid penalties and pending compliance filings — which may be a minor red flag for investors focused on corporate governance standards. The preference share redemptions are capital-structure actions and do not affect equity shareholders directly.