Annual Secretarial Compliance Report for the F.Y.2024-2025
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The Practicing Company Secretary (V H & Co.) has reviewed compliance with SEBI regulations for FY2024-25 and found several continuing non-compliances. Key issues include failure to disclose KMP contact details under Regulation 30 of SEBI LODR, and missing AGM and board meeting voting results on the BSE website for meetings held in 2015, 2016, 2020, and 2021. Committee composition details are also yet to be updated on both the BSE and company website. No monetary fines or penalties were imposed; only advisory actions were recommended. On a positive note, the company received in-principle approval from BSE on January 21, 2025 for revocation of the trading suspension it was facing due to these compliance lapses. The company qualifies for corporate governance exemptions under Regulation 15(2) as its paid-up capital is under Rs 10 crore and net worth under Rs 25 crore. Management has assured corrective steps will be taken.
Despite the positive development of receiving in-principle approval for suspension revocation, the multiple unresolved compliance failures — some stretching back nearly a decade — signal weak governance and disclosure practices, which remain a risk for shareholder trust and continued listing on BSE.