Compliance-Reg.24(A) - Annual Secretarial Compliance
Awaiting price reaction for this filing.
The secretarial audit report for the year ended March 31, 2026 reveals that Amit International Ltd had significant compliance failures. The company failed to file Related Party Transactions in XBRL format for March 2025, did not submit Statement on Impact of Audit Qualification in PDF, and had mismatches in Share Capital Audit Reports. The company also lacks a Managing Director/CEO as required under Section 203 of the Companies Act, 2013, with the current MD having resigned. The company failed to appoint a Company Secretary within the stipulated time. Multiple clarifications were sought by BSE throughout the year, with most statutory filings submitted with delays, primarily attributed to technical errors and non-receipt of data from the RTA. The PCS notes that the company has not complied with the majority of applicable SEBI LODR provisions.
This is a negative development. Multiple regulatory non-compliances and delayed filings indicate weak internal controls and governance issues. The absence of a Managing Director and Company Secretary raises red flags about corporate governance standards, which may attract further regulatory scrutiny from SEBI/BSE.