Annual Secretarial Compliance Report for the FY ended 31 March 2025
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Electrosteel Castings has submitted its Annual Secretarial Compliance Report for the financial year ended 31 March 2025, as required under SEBI's Listing Regulations. The report, issued by MKB & Associates, Company Secretaries, confirms overall compliance with SEBI regulations, secretarial standards, board policies, and disclosure norms, with no director disqualifications. A minor non-compliance was noted: the company delayed submission of Postal Ballot voting results (dated 26.12.2024) by one day to both BSE and NSE, attracting a penalty of Rs. 11,800 plus GST from each exchange under Regulation 44(3), which has been paid. Additionally, a SEBI letter dated 05.08.2024 flagged contra trade conduct by three employees/designated persons, with the company instructed to impose a Rs. 25,000 penalty on one of them, Mr. Santanu Nandan Goswami. A historical SEBI Settlement Order dated 20.02.2024 against promoters/promoter group entities for alleged insider trading violations is also referenced.
This is a routine annual compliance filing with no material impact on shareholders. The penalties disclosed are minor and have been paid, indicating low-risk governance issues. Investors should note the historical SEBI settlement involving promoters on insider trading matters, though it pertains to events prior to this reporting period.