Please find enclosed herewith the Annual Secretarial Compliance Report for the year ended March 31, 2025.
BLISSGVS · price
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Bliss GVS Pharma has submitted its Annual Secretarial Compliance Report for FY2024-25, prepared by AVS & Associates, Practicing Company Secretaries. The report flags two compliance gaps: (1) Late filing under Regulation 30 — the disclosure of an FDA license suspension at the Palghar tablet division was delayed by 1 day (FDA order was in a regional language), and the disclosure of a senior management personnel cessation was delayed by 15 days; no fines were levied for these. (2) Under Regulation 17(1A), the company appointed Mr. Nandkumar Kashinath Chodankar as a Non-Executive Independent Director (aged 75+) without prior shareholder approval, later ratified at the 39th AGM on July 25, 2024. BSE and NSE each imposed fines of INR 66,000 (excluding GST) for the quarters ended June 30 and September 30, 2024, which the company has paid. The report also references a prior-year observation about a 62-day delay in ESOP allotment disclosure. All other SEBI LODR compliance areas — secretarial standards, policies, website, insider trading, related-party transactions, and director disqualification — are marked compliant.
The regulatory fines are modest (total around INR 2.64 lakhs across both exchanges) and have already been paid, so the financial impact is negligible. Investors should note the company's weaker track record on timely disclosures, though management has committed to strengthening internal compliance processes.