Annual Secretarial Compliance Report for year ended 31st March, 2025
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The Practicing Company Secretary has filed the Annual Secretarial Compliance Report for Galactico Corporate Services Limited for FY 2024-25, flagging multiple compliance deviations. Key issues include discrepancies in shareholding pattern filings for quarters ended March 2025, December 2024, and March 2024; errors in financial results for December 2024 and September 2024; and issues in the Corporate Governance Report for June 2024. The company also did not constitute the Nomination and Remuneration Committee as required under Regulation 19 for the quarter ended September 2024, and delayed compliance with SEBI Takeover Regulations 10(5), 10(6) and 10(7). Two prior-year fines totaling Rs. 1,37,960 (Rs. 73,160 for Regulation 19(1)/19(2) and Rs. 64,800 for Regulation 23(9)) have already been paid. No fresh action has been taken by SEBI or stock exchanges, and all issues noted have been addressed by management through revised filings or replies.
Repeated compliance lapses in core SEBI LODR requirements — especially shareholding pattern and financial results — point to weak disclosure processes and may concern investors about governance quality. Shareholders should watch for cleaner filings in upcoming quarters; persistent non-compliance could attract additional fines or regulatory scrutiny.