Annual Secretarial Compliance for the period ending 31st March, 2025
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The Company Secretary has issued the Annual Secretarial Compliance Report under SEBI LODR Regulation 24A(2). The company is broadly compliant with secretarial standards, policies, website disclosures, related party transactions, and insider trading norms. Three notable non-compliances were flagged: the Board lacks an Executive Director (violation of Regulation 17(1)(a)), the Promoters' shareholding is not yet in dematerialised form (Regulation 31(2)), and there were delays in filing the Regulation 74(5) certificate for Q4 FY25. No fines were imposed by SEBI or the stock exchange on any of these lapses. The company also noted that BSE has given In-Principle Approval (4 February 2025) for revoking the suspension of trading on the exchange, and final approval is awaited. Separately, the Board approved a proposal for voluntary delisting from the Calcutta Stock Exchange in August 2024.
For retail investors: there are no financial penalties, but the company is dealing with legacy regulatory weaknesses including a suspended trading status on BSE (revocation in progress), incomplete Board composition, and pending promoter dematerialisation. These compliance gaps do not directly affect financials but signal governance shortcomings; the BSE trading resumption, if finalised, would be a positive event for liquidity.