Annual Secretarial Compliance Certificate for the financial year ended on 31.03.2025
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Deepak Spinners has filed its Annual Secretarial Compliance Report for FY ending 31 March 2025, as required under SEBI's LODR regulations. The report flagged five compliance lapses during the year, all relating to delays in reconstituting key board committees after resignations and retirements of independent directors, and a delay in appointing a woman director. BSE imposed total fines of approximately Rs. 5.63 lakh (excluding GST): Rs. 2,000 for a 2-day delay in filing investor grievance redressal data, Rs. 1.55 lakh for the woman director vacancy, Rs. 1.78 lakh for Audit Committee reconstitution, Rs. 1.80 lakh for Nomination & Remuneration Committee, and Rs. 48,000 for the Stakeholder Relationship Committee. The company has since paid all fines and rectified every issue, appointing a woman director on 6 January 2025 and reconstituting the Audit Committee (13 Nov 2024), NRC (31 Dec 2024) and SRC (31 Dec 2024). All other compliance areas — secretarial standards, insider trading, related party transactions, event disclosures, and policies — were found to be in order.
The fines are small relative to company size, but the cluster of governance lapses around board and committee composition is a minor red flag on compliance discipline. Shareholders should note the company has now corrected all deficiencies and is back to full compliance.