Please find attached Annual Secretarial Compliance Report, for the financial year ending 31st March, 2025, duly issued by M/s Siddiqui & Associates, Company Secretaries.
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Filatex India has submitted its Annual Secretarial Compliance Report for the financial year ended 31st March 2025, certified by M/s Siddiqui & Associates, Practicing Company Secretaries. The report confirms overall compliance with SEBI regulations, secretarial standards, insider trading norms, related party transaction rules, and disclosure requirements. One specific deviation was flagged: non-compliance with Regulations 18(1), 19, 20, and 21(2) of SEBI LODR Regulations relating to the composition of the Audit Committee, Nomination and Remuneration Committee, Stakeholders Relationship Committee, and Risk Management Committee. This arose because three Independent Directors (Mr. Swarup Chandra Parija, Mr. Suraj Parkash Setia, and Ms. Pallavi Joshi Bakhru) ceased to be directors on September 27, 2024 after completing two consecutive five-year terms. The Board reconstituted these committees on October 11, 2024 via circular resolution. NSE and BSE imposed fines of Rs. 2,66,880 (including GST) each, which the company paid under protest and filed waiver applications that remain pending.
This is a routine annual compliance filing with no material business impact. The flagged issue was a temporary procedural gap following the end of Independent Directors' terms and has already been corrected. Investors should note the pending waiver applications with BSE and NSE, which could result in refund of the ~Rs. 5.34 lakh in total fines if approved.