Pursuant to Reg. 24A of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed herewith Annual Secretarial Compliance report for the financial year ....
AVROIND · price
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Avro India Ltd has filed its Annual Secretarial Compliance Report for the financial year ended March 31, 2026, as mandated by SEBI Regulation 24A. The report, issued by Practicing Company Secretary M/s Chaturvedi & Company, examined compliance across multiple SEBI regulations. The examination revealed one deviation: the Company failed to obtain prior shareholder approval for a material Related Party Transaction involving personal guarantees given by promoters (Sushil Kumar Aggarwal, Sahil Aggarwal, Nikhil Aggarwal, Anita Aggarwal, and related HUF entities) to IDFC First Bank Ltd. The transaction was subsequently ratified by shareholders. No fine was imposed. The Company had obtained prior approvals from the Audit Committee and Board of Directors before entering into the transaction.
The compliance gap was procedural in nature and has been rectified through ratification, with no financial penalty. While this highlights a governance oversight in RPT approval process, the subsequent ratification and absence of fine suggest no material adverse impact on shareholders.