Voluntary Disclosure - SEBI Adjudication Order Dated June 30, 2025 (No Penalty Imposed)
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Fredun Pharmaceuticals received a SEBI adjudication order dated June 30, 2025, related to several alleged violations of SEBI's Listing Obligations and Disclosure Requirements (LODR) Regulations. The violations include failure to prepare FY 2017-18 financial statements as per Ind AS, submission of audit reports not given by peer-reviewed auditors, incorrect certification of non-applicability of Corporate Governance provisions for FY 2019-20 to FY 2021-22, failure to maintain audit committee quorum in a July 2020 meeting, and missing compliance certificate with the Directors' Report for FY ended March 2022. The Adjudicating Officer passed the order without imposing any monetary penalty. The company had previously replied to a show cause notice (April 2024) and attended a personal hearing in May 2024.
No monetary penalty was imposed and the company itself confirms there is no financial, operational, or other impact on its business. However, the disclosure highlights historical compliance lapses in financial reporting and corporate governance, which retail investors may view as a red flag on the company's past regulatory hygiene despite the favourable outcome.