We are enclosing the copy of Annual Secretarial Compliance Report for the Financial Year ended 31st March,2025.
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Family Care Hospitals Ltd filed its Annual Secretarial Compliance Report for FY2024-25, which flagged several compliance issues. The company paid a SEBI penalty of Rs. 15 lakh in May 2024 for prior non-compliance with board composition, related party transaction, and disclosure rules. A Rs. 3.36 lakh fine was also paid to BSE in March 2025 for not having the optimum mix of independent directors on its board. The company delayed filing the Statement of Impact of Audit Qualifications by 7 days, was 1 day late in publishing its Q2 FY25 results in a Marathi newspaper, and delayed the intimation of an independent director's resignation by 2 days. Additionally, the company retrospectively ratified related party transactions worth about Rs. 52.48 crore spanning six financial years (FY2018-19 to FY2023-24) through a postal ballot, though the company secretary noted this does not absolve the company of the prior violations.
Multiple compliance lapses and penalties highlight weak governance practices, which may concern shareholders. The retrospective approval of large related party transactions is a red flag that investors should review, though the company has now paid all outstanding fines and sought shareholder ratification.