DREDGECORP · price
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Dredging Corporation of India has submitted its Secretarial Compliance Report for FY 2024-25, prepared by Agarwal S. & Associates, Company Secretaries. The report flags a few non-compliances during the year: the Stakeholders Relationship Committee was short of members (dropped from three to two) from April 17 to May 28, 2024, after a director ceased, attracting fines of Rs 84,000 each plus GST from NSE and BSE. The committee was reconstituted on May 29, 2024 after appointment of a new MD & CEO. Additionally, promoter/promoter group shareholding declarations required under SEBI Takeover Regulations for FY ending March 2024 and March 2025 were not placed before the Audit Committee within the seven-working-day window, though they were tabled later on May 20, 2025. Previous-year non-compliances around board composition, related party disclosures, audit qualifications, and dividend distribution policy have been remediated with fines paid and waiver requests filed.
These are routine procedural lapses already flagged by the company with fines paid or waiver applications pending, with no major action taken by SEBI or exchanges against the entity. No material impact on shareholders is expected, though continued governance lapses could attract closer scrutiny going forward.