Annual Secretarial Compliance Report for the Financial Year ended March 31, 2025.
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Galaxy Bearings Ltd has submitted its Annual Secretarial Compliance Report for the financial year ended March 31, 2025, as required under SEBI's Listing Regulations. The report, issued by Practicing Company Secretary Jignesh Kotadiya & Co., confirms that the company largely complied with SEBI regulations, listing rules, and secretarial standards during the year. All key areas such as related party transactions, insider trading norms, website disclosures, board evaluations, and policy updates were found to be in order. One non-compliance was noted: the company did not have a qualified Company Secretary as Compliance Officer from February 1, 2024 to April 30, 2024, violating Regulation 6(1) of SEBI LODR. SEBI imposed a penalty of Rs. 53,000 plus GST, which was paid by the company on September 27, 2024. No action was taken against the promoters, directors, or subsidiaries during the year.
This is a routine compliance disclosure with no major red flags — the single past lapse has already been resolved with the penalty paid. Shareholders should view this as a neutral, administrative filing that confirms good governance practices overall.