Annual Secretarial Compliance Report for the period ended 31.03.2025
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
The Practicing Company Secretary has reviewed Dutron Polymers' compliance with SEBI regulations for FY25 and flagged several deviations. These include less than 50% independent directors on the board till September 2024 (penalty ₹5,36,900, under appeal), appointment of a director above 75 without a special resolution (penalty ₹2,14,760, under appeal), delay in related-party transaction disclosure (₹29,500 fine paid), incorrect classification of promoter shareholding (warning letter, corrected), and a share certificate signed by the MD instead of the Compliance Officer (warning letter). Resolutions passed at the 2024 AGM, including dividend payment, are kept in abeyance due to ongoing NCLT proceedings, and MGT-7/AOC-4 filings for FY24 are also delayed because of the same legal hold. Director Mr. Sudip Patel has raised complaints about non-receipt of board notices and irregularities in the postal ballot and AGM, which remain sub-judice. The company states most issues have been rectified or are under appeal with BSE.
Shareholders should note that the dividend declared at the 2024 AGM is currently withheld due to NCLT litigation, and several compliance lapses have attracted penalties totaling over ₹7.8 lakh (some under appeal). Multiple pending legal matters and allegations of governance irregularities by a director point to ongoing corporate governance uncertainty, which could weigh on investor sentiment.