Annual Secretarial Compliance Report for financial year ended March 31, 2025
FINKURVE · price
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Finkurve Financial Services filed its Annual Secretarial Compliance Report for FY2024-25, audited by M/s. Mayank Arora & Co. The report flags non-compliance at two Board Meetings held on July 9, 2024 and August 2, 2024, where no Independent Directors were present, violating Regulation 17(2A) of LODR rules. BSE imposed a penalty of Rs. 20,000 for this quorum lapse, which the company has since paid. A separate SEBI administrative warning dated January 17, 2025 was also noted regarding ESOP stock options granted on August 24, 2021 without prior in-principle listing approval, violating Regulation 12(3) of SEBI's Share Based Employee Benefits Regulations. All prior-year defaults (XBRL filing delays, related party transaction disclosure lapses) have been remediated, including payment of an earlier Rs. 5,900 fine. Overall, the company is compliant on key areas like insider trading, policies, website disclosures, and director disqualifications.
Minor regulatory penalties totalling Rs. 25,900 have been paid and the board-meeting quorum default has been corrected, so there is no lasting material impact on shareholders. The ESOP-related SEBI warning is an older issue that the company has already resolved by obtaining in-principle approval in May 2024.