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Grovy India Limited submitted its Annual Secretarial Compliance Report for FY2024-25 to BSE, as required under Regulation 24A of SEBI's LODR Regulations. The report, prepared by APMG & Associates (Practicing Company Secretaries), confirms overall compliance with SEBI regulations, Secretarial Standards, insider trading rules, related party transaction norms, and disclosure requirements. Two minor non-compliances were flagged: (1) a one-day delay in commencing trading of bonus shares under Regulation 295(1), attracting a BSE fine of Rs. 20,000 which has been paid, and (2) non-submission of voting results within the prescribed timeline under Regulation 44(3), attracting a BSE fine of Rs. 10,000 which has also been paid. The company has filed a waiver application with BSE for the bonus share fine. No actions were taken by SEBI against the company during the year, and no additional non-compliances were observed.
The fines totaling Rs. 30,000 are negligible financially and have already been settled. The lapses are procedural delays rather than substantive violations, indicating overall good governance. Minimal impact on shareholders; this is a routine annual compliance filing showing the company meets SEBI's regulatory requirements with only minor administrative delays.