Find Annual Secretarial Compliance Report for the quarter ended March , 2025
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Dynamic Industries Limited has submitted its Annual Secretarial Compliance Report for the financial year ended March 31, 2025, issued by Practicing Company Secretary Chintan K. Patel. The report flags one non-compliance: the company appointed its Chairman and Whole-time Director, Mr. Apurva Kamleshbhai Modi, as a member of the Nomination and Remuneration Committee, which drew a fine of Rs. 2,17,120 (including GST) from BSE under Regulation 19(1) of SEBI (LODR) Regulations, 2015. The management has filed a waiver application with the Exchange, arguing that Regulation 19(2) permits the Chairperson (executive or non-executive) to be a member of the NRC. A previous year observation regarding a typographical error in the September 2023 Limited Review Report was also noted as corrected, with a waiver application filed.
The compliance report is largely routine, but the Rs. 2.17 lakh BSE fine and the pending waiver application highlight a minor governance lapse related to the composition of the Nomination and Remuneration Committee. If the waiver is rejected, the company will need to restructure the committee, but the financial impact is negligible. Shareholders should note that no other major non-compliances or disqualifications were observed.