Annual Secretarial Compliance Report for the financial year ended on 31st March 2026.
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Avance Technologies has submitted its Annual Secretarial Compliance Report for the year ended March 31, 2026, certified by Sidhi Maheshwari & Associates, Company Secretaries. The report reveals one compliance violation: the company failed to submit a Limited Review Report (LRR) along with Q3 FY26 financial results (December 2025) as required under SEBI Regulation 33. BSE imposed a fine of Rs. 2,65,500 for this lapse. The company stated the delay was due to the statutory auditor's critical illness. The LRR was eventually submitted on May 23, 2026. Additionally, the statutory auditor (M/s Rishi Shekhri & Associates) resigned on April 24, 2026 citing medical reasons. All other SEBI regulatory requirements including secretarial standards, related party transactions, insider trading norms, and website disclosures were found compliant.
The Rs. 2.65 lakh fine is relatively small but highlights operational risk around auditor dependency. The auditor resignation may require appointment of a new auditor and could create temporary compliance gaps. Overall, the secretarial report is broadly reassuring with no material governance failures beyond the delayed financial reporting.