GSS Infotech Limited has informed to exchange regarding submission of Annual Secretarial Compliance Report for the FY ended March 31, 2025.
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GSS Infotech Ltd has filed its Annual Secretarial Compliance Report for FY 2024-25 to NSE and BSE. The report reveals multiple SEBI LODR non-compliances during the year, including late filing of financial results (Reg. 33), late submission of the secretarial compliance report itself (Reg. 24A), and failure to appoint a qualified company secretary as the compliance officer (Reg. 6(1)). The company was fined roughly Rs. 1.24 lakh in total by BSE and NSE (Rs. 5,900 + Rs. 5,900 for Reg. 33; Rs. 2,360 + Rs. 2,360 for Reg. 24A; Rs. 55,460 + Rs. 51,920 for Reg. 6(1)). The company also did not appoint an independent director on the board of its material subsidiary and there was a change in the subsidiary's statutory auditor due to disqualification. The promoter declaration under SEBI Takeover Regulations regarding non-encumbrance for FY ending 31-03-2024 was also not filed. All fines have been paid by the company, which has acknowledged the lapses and said corrective steps are being taken.
These are mostly procedural and disclosure-related lapses rather than business fundamentals, so the direct impact on shareholders is limited to a small reputational concern and minor penalties. However, repeated non-compliance with basic listing requirements may raise governance red flags for investors, and the pending warrant conversion and forfeited warrant matters could affect share capital structure.