Please find attached Annual Secretarial Compliance Report for the Financial Year ended 31st March, 2025
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Astec Lifesciences has filed its Annual Secretarial Compliance Report for FY ended 31st March 2025, as required under SEBI LODR Regulation 24A(2). The report, issued by secretarial auditor BNP & Associates, confirms the company generally complied with applicable SEBI regulations, secretarial standards, and disclosure requirements during the year. Two deviations were noted: a delay in intimating stock exchanges about the cessation of the General Manager (Operations), and a delay of over 3 months in appointing a Non-Executive Independent Director under Regulation 17(1E) of LODR. NSE and BSE imposed a total fine of Rs. 2,59,600 (inclusive of taxes) for the delayed director appointment, which was paid in November 2024; the independent director was appointed on September 17, 2024. NSE also sought clarifications in July 2024 on Related Party Transaction disclosures for the half-year ended March 2024, to which the company responded in August 2024.
The report flags minor, already-resolved governance lapses with penalties paid and corrective steps taken, suggesting no ongoing material risk but highlighting historical compliance gaps in board composition and timely disclosures that shareholders should note.