Annual Secretarial Compliance Report for the Financial Year ended March 31, 2025

Everest Organics has submitted its Annual Secretarial Compliance Report for FY25, signed by Practicing Company Secretary D. Hanumanta Raju & Co. The report flags several compliance lapses during the year. The Board did not have the required 50% Non-Executive Directors between Sept 28 and Nov 12, 2024, attracting a BSE fine of Rs. 1,01,480 (incl. GST). The Nomination and Remuneration Committee composition was non-compliant from Sept 28, 2024 to Jan 12, 2025, drawing a Rs. 28,320 fine. The office of Compliance Officer was vacant for over three months (June 8 to Nov 12, 2024), leading to a Rs. 5,900 fine. Related party transaction disclosures and director resignations (Mr. Venkatasatyanarayana Murthy and Mr. Akella Parvathisem) were delayed in intimating the stock exchange. The company also failed to submit notices of shareholder meetings and prior intimations of board meetings in XBRL mode. Other concerns include no performance evaluation of the Board, outdated Related Party Transaction policy (last reviewed June 2021), missing recording of UPSI sharing in the Structured Digital Database, and absent documentation of PAN freezing and KYC communications.