Banaras Beads Limited has informed the Exchange regarding 'Compliance under Regulation 24(A) and Regulation 34(3) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.'.
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Banaras Beads Limited has submitted its Annual Secretarial Compliance Report and a Certificate of Non-Disqualification of Directors for the financial year ended 31st March 2025, as required under SEBI LODR Regulations 2015. Both documents were issued by Practicing Company Secretary Mr. Ajay Kumar Jaiswal of M/s Ajay Jaiswal & Co. The compliance report flags a few ongoing issues: a voluntary delisting application pending with the Calcutta Stock Exchange (CSE) since November 2013, with CSE issuing a notice in October 2024 to freeze promoter and promoter group demat accounts; an NSE-imposed fine of Rs. 65,000 for delayed submission of machine-readable results and cash flow statement for September 2023 quarter, which was later waived in April 2024; and a Section 90 BEN-2 filing delay that led to a Rs. 5 lakh penalty on the company and Rs. 1 lakh on the officer in default (currently under appeal). All six directors on the board were confirmed as not disqualified by SEBI, MCA, or any other authority.
This is a routine annual compliance filing, but it highlights unresolved regulatory issues including a decade-old pending delisting request, frozen promoter demat accounts, and a pending appeal against a significant penalty, which may be a concern for shareholders assessing governance quality.