Annual Secretarial Compliance Report for the period ended March 31, 2025
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The company submitted its Annual Secretarial Compliance Report as required under Regulation 24A of SEBI's Listing Regulations, reviewed by Practicing Company Secretary Priyanka Rajora of Rajora & Co. For FY25, two observations were noted: an advisory letter from NSE flagging previously reported lapses, and a mismatch in Related Party Transaction disclosures where the annual report showed M/s FA Software Services' outstanding balance rising from Rs 6.13 crore to Rs 10.59 crore, but the half-yearly RPT filings did not reflect this — the company has since refiled corrected disclosures on the NEAPS portal. The report also details remedial actions on prior-year (FY24) lapses, including Rs 3.18 lakh in fines paid to BSE and NSE for missing uploads of cash flow and assets/liability statements, plus several Regulation 30 disclosure delays (CFO and CS appointments, director cessation, subsidiary incorporation) that were subsequently rectified. Compliance status was marked 'Yes' across key governance areas including secretarial standards, board policies, website disclosures, director eligibility, insider trading, and subsidiary identification.
No material financial or operational impact is disclosed; the FY25 observations are advisory or procedural in nature with no penalties. Shareholders should note repeated minor disclosure lapses around Reg 30 and RPT reporting, though management has consistently rectified these after flagging.