Pursuant to Regulation 24A of SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015 we are enclosing herewith the Annual Secretarial Compliance Report for the Financial ....
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Deco Mica Ltd has filed its Annual Secretarial Compliance Report for the financial year ended March 31, 2026, prepared by Practicing Company Secretary M/s Govil Rathi & Associates. The report identifies several compliance failures during the review period. Key issues include: (1) Related Party Transactions policy on the company website does not prescribe company-specific threshold limits approved by the Board as required under Regulation 23(1), with instances of non-adherence to Regulations 23(2), 23(4) and 23(9); (2) Prior approval of Audit Committee was not obtained for all Related Party Transactions; (3) Delayed submission of the previous year's Secretarial Compliance Report by 27 days, resulting in a fine of ₹54,000 (excluding GST) from BSE, which was subsequently paid after waiver request was denied. Additionally, two Independent Directors (Ms. Nupur Bipinchandra Modi and Mr. Gunjan Yogesh Pandya) ceased office on May 29, 2026, due to absence from Board meetings for 12 months. The company also paid outstanding SOP fines of ₹30,000 and ₹10,000 for earlier compliance lapses.
This filing reveals ongoing governance weaknesses at Deco Mica Ltd, with repeated compliance failures in related party transactions and regulatory filings. Multiple SEBI LODR violations and unpaid fines suggest weak internal controls. The loss of two Independent Directors could impact board independence and corporate governance standards, which may concern shareholders regarding oversight quality.