Annual Secretarial Compliance Report for the Financial Year Ended 31.03.2025.
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Chaman Lal Setia Exports Ltd submitted its Annual Secretarial Compliance Report for FY ending March 31, 2025. BSE and NSE issued notices to the company for short-term vacancies in three key committees — Audit Committee (Reg 18(1)), Nomination & Remuneration Committee (Reg 19(1)/19(2)), and Risk Management Committee (Reg 21). Penalties imposed totaled approximately Rs. 1,25,080 (for Dec-24 quarter), Rs. 9,440 (for Sep-24 quarter), Rs. 36,000 (NRC), and Rs. 72,000 (Risk Mgmt), charged separately by each exchange. The company paid all fines under protest and filed waiver applications with both exchanges, arguing the vacancy period predated the December 12, 2024 amendment that specified timelines for filling such vacancies. The Board reconstituted all three committees by November 2024 (Audit & NRC on 17.10.2024; Risk Mgmt on 04.11.2024). Waiver responses are still awaited from NSE.
This is a routine governance compliance filing with limited financial impact — the total penalties are small relative to the company's size. The committee vacancies were brief and have since been rectified, suggesting a temporary governance hiccup rather than a structural concern. Investors should monitor the waiver outcome, as approval could lead to refunds of the protested fines.