Blue Coast Hotels Limited hereby inform exchange regarding the Annual Secretarial Compliance Report for the Financial Year ended on March 31, 2025.
BLUECOAST · price
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Blue Coast Hotels has submitted its Annual Secretarial Compliance Report for FY ended March 31, 2025, to BSE and NSE, as required under SEBI's Listing Regulations. The report, certified by Practicing Company Secretary Ajay Kumar, confirms the company is broadly compliant with SEBI regulations, secretarial standards, insider trading rules, and disclosure norms. However, it highlights that SEBI issued a show cause notice on March 4, 2025 to the company, its Whole Time Director, and former CFO in connection with an ongoing investigation into the company's financials for FY 2019, FY 2020, FY 2021, and FY 2022. The company and its Whole Time Director have filed a Settlement Application with SEBI, which is currently pending review. Previous SEBI summons dated April 19, 2024 had already required the company to produce financial documents.
The ongoing SEBI investigation into multiple years of financials and the pending show cause notice are negative signals for shareholders, indicating unresolved regulatory scrutiny. A settlement is being pursued, but the outcome remains uncertain and could weigh on the stock until resolved.