Company hereby submits Annual Secretarial Compliance Report for the Financial Year 2024-25.
Awaiting price reaction for this filing.
IIFL Finance Limited has submitted its Annual Secretarial Compliance Report for the financial year ended March 31, 2025, prepared by M/s. Nilesh Shah & Associates, Practicing Company Secretaries. The report confirms compliance with SEBI (LODR) Regulations 2015 across most areas including secretarial standards, board policies, related party transactions, and insider trading norms. However, Annexure A flags two past non-compliances: (1) a delay in submitting audited financial results for FY ended March 31, 2024, leading to fines of Rs. 94,400 each from BSE and NSE (paid), and (2) payment of excess remuneration to Managing Director Nirmal Jain without shareholder approval by special resolution. Both issues stem from the RBI cease and desist order on the Gold Loan business issued in March 2024. The company plans to seek shareholder approval at the upcoming AGM for waiver of recovery of excess remuneration.
The flagged deviations are legacy issues from FY24, already addressed with fines paid. No new material non-compliances for FY25 were identified, so this is largely a routine regulatory filing. Shareholders should note the upcoming AGM agenda item seeking waiver of recovery of excess MD remuneration.