Annual Secretarial Compliance Report for the year ended March 31, 2025.
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Gokak Textiles has submitted its Annual Secretarial Compliance Report for the year ended March 31, 2025, issued by KDSH & Associates LLP. The company is largely compliant with SEBI listing regulations, secretarial standards, insider trading rules, related party transaction norms, and website disclosure requirements. One non-compliance was flagged: a casual vacancy of a Woman Director on the board was not filled within the prescribed timeline, violating SEBI's board composition rules under Regulation 17(1). BSE imposed a fine of Rs. 5,31,100 for this lapse. The company subsequently appointed a woman director with effect from August 13, 2024, resolving the issue.
The fine of Rs. 5.31 lakh is small and the governance lapse has already been corrected, so the impact on shareholders is minor. However, the report also flags potential further penal action from SEBI regarding board composition and committee constitution, which is a mild governance red flag worth monitoring.