Annual Secretarial Compliance report for the F.Y 2024-25
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Elnet Technologies has filed its Annual Secretarial Compliance Report for the financial year ended March 31, 2025, as required by SEBI regulations. The report, issued by a Practicing Company Secretary, identified two non-compliances: failure to appoint a woman director under Regulation 17(1) and failure to constitute a properly composed audit committee under Regulation 18(1). Both issues attracted fines from BSE — Rs. 1,29,800 and Rs. 89,680 respectively — which the company has already paid. To rectify the lapses, the company appointed Mrs. Madura Ganesh (DIN: 02456676) as Additional Independent Director and reconstituted the Audit Committee. The report also confirmed compliance with secretarial standards, timely policy updates, website disclosures, related party transaction approvals, and insider trading norms. No further action was taken by SEBI or stock exchanges beyond the two fines.
The company has resolved its prior governance shortcomings by paying fines and strengthening its board composition, indicating improved compliance going forward. This is a routine regulatory filing with limited direct impact on stock price, though it signals better corporate governance for minority shareholders.