Enclosed herewith annual secretarial compliance report under regulation 24 A of SEBI LODR received from M/s. Sanjay Dholakia & Associates, Practicing Company Secretaries, duly signed on 27.05.2025
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Conart Engineers Ltd submitted its Annual Secretarial Compliance Report for FY 2024-25, prepared by M/s Sanjay Dholakia & Associates and signed on 27 May 2025. The report flags seven non-compliances under SEBI LODR Regulations, attracting cumulative BSE fines of approximately Rs 9.90 lakh. Key issues include failure to appoint a woman director (Reg 17(1), Rs 5,42,800 fine), non-compliance with the Nomination & Remuneration Committee composition (Reg 19, Rs 1,01,480), and delayed submission of the Annual Report (Reg 34, Rs 3,16,240). Smaller lapses include delays in filing shareholder grievance statements, Large Entity non-applicability intimation, newspaper advertisement of financial results, and the SAST Regulation 31(4) annual declaration. The company has either paid the fines, filed waiver applications with BSE, or attributed the lapses to inadvertent errors, and no prior-period observations remain unresolved.
The multiple compliance lapses and BSE fines point to weak secretarial discipline at this small-cap company, which may concern governance-focused investors. However, most issues are procedural, fines are modest relative to company size, and remediation (waivers, payments, corrective filings) is already underway, so direct impact on shareholders is limited.