Annual Secretarial Compliance Report of the company for the F.Y. ended March 31, 2025.
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Baroda Rayon Corporation has filed its Annual Secretarial Compliance Report for FY 2024-25, issued by Practicing Company Secretary Manish R. Patel. The report confirms the company broadly complied with SEBI regulations, with only one ongoing observation: promoter and promoter group equity shares are not fully held in dematerialized form, an issue carried forward from FY 2018-19 onward. A separate prior observation regarding non-ascertainment of interest on unsecured loans under Ind AS-32 has been partially addressed through a Debt Settlement Agreement dated March 08, 2025, which settled overdue secured debts of Rs. 6,321.87 lakhs. Unsecured loans are being negotiated for settlement in the next financial year. No action was taken by SEBI or stock exchanges against the company during the review period.
This is a routine annual compliance filing with no material adverse findings, though the lingering promoter demat issue and pending unsecured loan settlement remain minor governance concerns. The debt settlement of Rs. 6,321.87 lakhs is a positive development that reduces the company's overdue liability burden.