Annual Secretarial Compliance Report for the Financial Year ended March 31, 2025
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B&B Triplewall Containers filed its Annual Secretarial Compliance Report for FY25, reviewed by Varuna Mittal & Associates. The company generally complied with SEBI regulations but had three notable deviations. First, there was no qualified company secretary or compliance officer from January 2023 to June 24, 2024, leading to fines of Rs. 84,000 plus 18% GST (about Rs. 99,120 each) imposed separately by NSE and BSE. Second, the company failed to submit Postal Ballot voting results in XBRL format within the required timeframe for the April 9, 2024 notice, attracting an Rs. 11,800 fine from BSE. Third, related party transaction disclosures were filed one day late (May 31 versus the due May 30, 2024), resulting in a Rs. 5,900 fine from BSE. Mr. Manish Gupta has since been appointed as compliance officer, and all other compliance areas including secretarial standards, website disclosures, and insider trading norms were found satisfactory. The company has one non-material subsidiary.
Total penalties amount to roughly Rs. 2.16 lakh, which is financially minor, but the multiple timing and governance lapses (especially the nearly 18-month gap without a compliance officer) raise flags on internal controls and disclosure discipline that investors should track going forward.