AVRO INDIA LIMITED has informed the Exchange regarding 'Annual Secretarial Compliance report for Financial year March 31, 2026'.
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AVRO India Limited has submitted its Annual Secretarial Compliance Report for FY 2025-26, prepared by Practicing Company Secretary M/s Chaturvedi & Company. The report examines compliance across multiple SEBI regulations including LODR, ICDR, SAST, PIT, and depository regulations. A compliance deviation was identified: the Company failed to obtain prior shareholder approval for material Related Party Transactions involving personal guarantees given to IDFC First Bank Ltd by promoters (Sushil Kumar Aggarwal, Sahil Aggarwal, Nikhil Aggarwal, Anita Aggarwal, and respective HUF entities). The transactions were later ratified. The Audit Committee and Board of Directors had approved the transactions, but shareholder approval under Regulation 23(4) was not secured in advance. No fine was imposed.
This represents a regulatory compliance lapse under SEBI LODR. While no monetary penalty was levied, it signals weak internal controls around related party transactions. Investors should monitor whether adequate systems are put in place to prevent recurrence.