Pursuant to Regulation 24A of SEBI (LODR) Regulations, 2015, please find enclosed herewith the Annual Secretarial Compliance Report of the Company for the Financial Year ended March 31, 2025
GANDHAR · price
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Gandhar Oil Refinery submitted its Annual Secretarial Compliance Report for FY25, prepared by Manish Ghia & Associates, as required under SEBI's LODR Regulation 24A. The report confirms broad compliance with SEBI regulations, secretarial standards, insider trading norms, related party transaction rules, and board performance evaluation requirements. Two timing lapses were flagged in Annexure-1: (1) delayed submission of the board meeting outcome held on July 25, 2024 regarding the proposed incorporation of a wholly owned subsidiary, and (2) the actual intimation about the subsidiary's incorporation (dated August 23, 2024) was sent to the exchanges only on March 29, 2025, well beyond the 12-hour SEBI deadline. Both BSE and NSE issued cautionary emails but no fines were imposed.
Minor compliance issues with no monetary penalty. Management has acknowledged the delays and is reinforcing internal disclosure processes, but repeated lapses could attract stricter regulatory action and may concern investors focused on governance quality.