ANNUAL SECRETARIAL COMPLIANCE REPORT FRO PCS 27.05.2025
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The company has filed its Annual Secretarial Compliance Report for FY 2024-25, certifying compliance with SEBI regulations, the Companies Act, and listing obligations. The Practising Company Secretary (B. Bhushan & Co.) confirmed that most compliance items — including secretarial standards, policy adoption, website disclosures, director disqualification, document preservation, performance evaluation, related party transactions, event disclosures, and insider trading rules — are in order. No actions were taken by SEBI or stock exchanges against the company during the review period. Some old observations from earlier years remain pending: BSE-imposed fines and a promoter share debit freeze under Regulations 18(1), 29(2)(3), and 34; a late submission of the Scrutinizer's report under Regulation 44(3) for FY 2023-24 (fines paid and now regularized); and a promoter debit freeze under Regulation 23(9), which the company contends is not applicable to it under Regulation 15(2) of SEBI LODR, with a waiver application being pursued. The company also continues its voluntary de-listing process from the Calcutta Stock Exchange.
For shareholders, this is largely a routine governance confirmation with no fresh penalties or regulatory action during FY25. However, lingering BSE fines, an unresolved promoter debit freeze, and the ongoing Calcutta Stock Exchange de-listing process are background overhangs that investors should monitor.