Please find enclosed herewith the Annual Secretarial Compliance Report for the financial year 2024-25
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Bang Overseas Ltd has submitted its Annual Secretarial Compliance Report for the financial year ended March 31, 2025, as required under SEBI Regulation 24A. The report, prepared by Kothari H. & Associates (Practicing Company Secretaries), confirms that the company is largely compliant with SEBI LODR Regulations, secretarial standards, and corporate governance norms. A few minor observations were noted: (1) the company maintained its insider trading database in Excel instead of the SDD software due to technical issues, and (2) 63,600 promoter group shares remain in physical form rather than dematerialized, which is a continuing non-compliance with Regulation 31(2) flagged since FY 2021. Management has stated it is taking necessary steps to dematerialize these shares.
No material governance red flags — the company is broadly compliant and there are no SEBI penalties or stock exchange actions reported. The continued non-dematerialization of promoter shares is a minor recurring issue that may draw further regulatory attention if not resolved soon, but is unlikely to affect the stock price materially.