Dear Sir/Ma''am, Pursuant to SEBI Circular no. CIR/CFD/CMD1/27/2019 dated February 08, 2019, and Regulation 24A of SEBI (LODR) Regulations, 2015, we enclose Annual Secretarial Compliance ....
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Caspian Corporate Services Ltd has filed its Annual Secretarial Compliance Report for FY 2025-26, prepared by Practicing Company Secretaries M/s. Shalini Pandey & Associates. The report identifies two key compliance deviations: (1) a delay in submitting the XBRL filing for Change in Management beyond the mandatory 24-hour window under Regulation 30 of SEBI LODR, and (2) non-compliance with Regulation 24, as the company has not appointed at least one independent director from its board onto the board of its unlisted material subsidiary Sumathi Corporate Services Private Limited. The report also notes a 5-day delay in depositing dividend into a separate bank account, though payment was made within 30 days of declaration. The company states it has taken corrective actions to ensure timely compliance going forward. All other SEBI regulations, including insider trading norms, secretarial standards, and related party transaction requirements, were found to be in compliance.
The compliance deviations, particularly the overdue appointment of an independent director on the material subsidiary's board, represent governance gaps that may attract regulatory scrutiny or penalties from SEBI or the stock exchange. Shareholders should monitor whether the company rectifies these issues promptly to avoid further regulatory action.