Pursuant to Regulation 24A of SEBI (Listing Obligations and Disclosure Requirements) Regulations , 2015 as amended , we enclose the Annual Secretarial Compliance Report for the Financial ....
GLOBALVECT · price
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Global Vectra Helicorp Ltd has filed its Annual Secretarial Compliance Report for FY 2025-26. The secretarial auditor (Martinho Ferrao & Associates) confirmed the company largely complied with SEBI regulations, though one deviation was noted. The company failed to maintain the required minimum of 6 directors on its Board as mandated for top 2000 listed entities under Regulation 17(1)(c) of LODR. The NSE levied a fine of INR 5,000 per day from July 2024, which the company contests. The delay in director appointments is due to mandatory security clearance requirements from the Ministry of Home Affairs through the Ministry of Civil Aviation for aviation sector appointments. All other areas including insider trading compliance, related party transactions, document preservation, and website disclosures were found satisfactory.
This is a regulatory compliance matter specific to aviation sector security norms rather than a governance failure. The company's request for fine waiver remains pending. No major red flags for shareholders as the issue stems from external regulatory requirements.