Please find enclosed the Annual Secretarial Compliance Report for the year ended 31.03.2025
GEOJITFSL · price
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Geojit Financial Services filed its Annual Secretarial Compliance Report for FY2024-25, prepared by Practicing Company Secretaries M/s Satheesh and Remesh under SEBI LODR Regulation 24A. The report flags multiple non-compliance observations arising from inspections by NSE, BSE, MCX, NCL and SEBI, covering issues like MTF collateral reporting, KYC uploads, daily margin statement delays, CKYC communication, inactive client flagging, and principal officer data mismatches. Total monetary penalties imposed amounted to approximately Rs 5 lakh — the largest being Rs 2.10 lakh each from NSE and BSE for a 42-day delay in reconstituting the board with independent directors after two retired in July 2024. Additional fines of Rs 20,000 (BSE), Rs 10,000 (NSE for RBS data and voting results), Rs 5,000 (NSE/BSE for related-party transaction filing) and Rs 2,000 (MCX) were levied. The company has stated that processes have been strengthened and remedial actions taken to prevent recurrence.
The compliance lapses are largely procedural and operational in nature with relatively modest financial penalties — unlikely to materially affect the stock price. However, the repeated reporting errors and the board composition delay highlight governance and process gaps that retail investors should monitor. No action was taken against promoters or directors, and the company has remediated past observations.