Annual Secretarial Compliance Report for the financial year ended 31st March, 2025
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Galaxy Cloud Kitchens Limited filed its Annual Secretarial Compliance Report for FY2024-25, reviewed by Nidhi Bajaj & Associates. Two non-compliances were flagged: (1) under Regulation 6(1) of SEBI LODR, the company did not have a qualified Company Secretary as Compliance Officer from April 1 to April 18, 2024, leading to a stock exchange fine of ₹18,000 (plus 18% GST); (2) under Regulation 2(f) & 26A of SEBI LODR, the Chief Financial Officer position remained vacant for over three months after the previous CFO resigned on April 25, 2023, with the new CFO eventually appointed on October 24, 2024. Both non-compliances have since been regularized, and the company has paid the fine. All other compliance areas — including secretarial standards, policies, website disclosures, insider trading, related party transactions, and director eligibility — were found to be in order.
Minor governance lapses related to key managerial personnel appointments have been identified and fully rectified. The financial penalty is small, and there are no ongoing compliance issues, suggesting limited material impact on shareholders or stock price.