Disclosure with regard to the status of the Non-Compliances.
Awaiting price reaction for this filing.
The company has acknowledged multiple non-compliances with NSE listing regulations, including failure to submit shareholding patterns for 7 consecutive quarters (Sep 2023 to Mar 2025), non-submission of annual reports for FY2023 and FY2024, non-compliance with board composition norms, and delays in paying listing fees for FY2022-23 through FY2024-25. The company attributes these lapses to the Depositories (CDSL and NSDL) blocking its beneficiary position (Benpos) from April 2023 over disputed annual custodial fee invoices of Rs. 58.30 lakh (CDSL) and Rs. 8.84 lakh (NSDL). The company has filed a writ petition at the Delhi High Court in December 2024 seeking relief, with NSE, BSE, SEBI, and the Depositories named as respondents. Separately, the company noted that SEBI had frozen its bank accounts in November 2020 in connection with a GDR issue matter, and that promoters are funding day-to-day operations due to financial difficulties.
This disclosure highlights serious and prolonged regulatory non-compliance that could lead to further action from the exchanges or SEBI, including potential trading restrictions or delisting proceedings. Shareholders face heightened risk given the company's weak financial position, frozen bank accounts, and pending litigation — the stock already trades at just Rs. 0.41–0.45, making it a penny stock with limited liquidity.