Annual Secretarial Compliance Report for the year ended 31-03-2025.
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Bihar Sponge Iron Limited has filed its Annual Secretarial Compliance Report for FY2024-25 with BSE, as required under Regulation 24A of SEBI LODR Regulations. The report, issued by Soniya Gupta & Associates, Practicing Company Secretaries, confirms the company is broadly compliant with SEBI regulations, including secretarial standards, board policies, website disclosures, related party transactions, insider trading norms, and no action by SEBI or stock exchanges. One recurring deviation is noted: promoter shareholding is only 47.95% in dematerialized form against the 100% required under SEBI Circular CIR/ISD/3/2011, because about 3,25,00,300 shares held in the name of Moderate Leasing and Capital Services Limited (promoter group) are pledged. The same issue was flagged in last year's report and remains unresolved, though no fine, warning or penalty has been imposed. The company has no subsidiaries and there was no statutory auditor resignation during the year.
This is largely a routine compliance filing with no negative regulatory action against the company. The only open item is a minor, recurring governance lapse around promoter share dematerialization that has so far attracted no penalty, but shareholders may want to track its resolution.