Reg 24A - Annual Secretarial Compliance Report for FY ended 31 March 2025
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GTN Textiles has filed its Annual Secretarial Compliance Report for FY25, confirming overall compliance with SEBI LODR Regulations, secretarial standards, insider trading norms, related party transaction rules, and director disqualification requirements. The report flags a few minor deviations: the company failed to intimate BSE within 12 hours about the cessation of Independent Director B.L. Singhal on 18 September 2024, and the chairperson post of the Stakeholders Relationship Committee remained vacant after reconstitution. BSE levied a fine of Rs. 28,320 (including GST) on the company. The company has since resubmitted the corporate governance report and applied for a waiver of fine by paying a processing fee of Rs. 11,800 (including GST). The waiver petition is under process with BSE.
The flagged issues are procedural in nature, involve modest fines, and the company is actively seeking waivers and has taken corrective steps. No major governance red flags — limited impact expected on share price, though investors may note the minor delays in regulatory disclosures.