Annual Secretarial Compliance Report for the Financial Year ended on March 31, 2025
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B&B Triplewall Containers submitted its Annual Secretarial Compliance Report for FY ending March 31, 2025, as required under SEBI LODR Regulation 24A, certified by M/s Varuna Mittal & Associates. The report flagged three non-compliances during the review period: (1) non-appointment of a qualified company secretary as Compliance Officer from January 2023 until June 24, 2024, for which both NSE and BSE levied a fine of Rs. 84,000 each plus 18% GST (totaling Rs. 99,120 per exchange); (2) failure to submit Postal Ballot voting results (dated April 9, 2024) in XBRL format within the stipulated two working days, attracting a BSE fine of Rs. 11,800 including GST; and (3) a one-day delay in disclosing related party transactions alongside the May 30, 2024 financial results, leading to a BSE fine of Rs. 5,900 including GST. The company has since appointed Mr. Manish Gupta as qualified company secretary and compliance officer w.e.f. June 24, 2024, to rectify the most serious lapse. Other compliance areas including Secretarial Standards, insider trading norms, website disclosures, RPT audit committee approvals, and director disqualification checks were found to be in order.
Minor negative for governance profile — the cumulative fines (~Rs. 2.15 lakh across NSE and BSE) are financially small but reveal repeated lapses in timely regulatory filings and a prolonged gap in having a qualified compliance officer, which may be a red flag for institutional and governance-focused investors.