Submission of Annual Secretarial Compliance Report for the Financial Year 2024-25
GAYAPROJ · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Gayatri Projects Limited, currently under Corporate Insolvency Resolution Process (CIRP) since November 2022, filed its Annual Secretarial Compliance Report for FY 2024-25. The report reveals multiple SEBI LODR non-compliances, including non-submission of financial results for all quarters of FY 2024-25, non-submission of the FY 2023-24 annual report, failure to hold the Annual General Meeting, and absence of a Company Secretary/compliance officer. Total penalties of approximately Rs. 2.48 lakh have been imposed for late or missing filings (Rs. 84,000 for missing secretarial report, Rs. 1.20 lakh for late financial results, Rs. 44,000 for shareholding pattern non-submission), and the company is in the process of applying for waivers. Several quarterly compliance submissions for FY 2024 were delayed by 5-6 months, including shareholding patterns, corporate governance reports, and investor complaint filings. The Resolution Professional (CA Sai Ramesh Kanuparthi) is currently exercising Board powers since the Board of Directors remains suspended under IBC provisions.
The extensive list of non-compliances signals serious governance and operational stress at the company, which is already under insolvency proceedings. This could further erode investor confidence, and any unresolved fines or penalties may complicate the ongoing resolution process and recovery prospects for shareholders and creditors.