Annual Secretarial Compliance Report for the Financial Year ended 31st March, 2025
FLUOROCHEM · price
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Gujarat Fluorochemicals has submitted its Annual Secretarial Compliance Report for FY2024-25, confirming overall compliance with SEBI regulations. One non-compliance was flagged: between 13 August 2024 and 24 March 2025, the board did not meet the requirement of having at least half independent directors under Regulation 17(1)(b) of SEBI LODR Regulations, because the board had 5 independent directors out of 11 members. Both NSE and BSE imposed a fine of Rs 2,89,100 (including GST) each, which the company paid on 18 March 2025. The composition issue was resolved by 25 March 2025 after a Whole-time Director resigned, bringing the board to 10 members with 5 independent directors. Previous year observations regarding board composition and non-disclosure of security cover on NCDs have also been closed.
This is a routine regulatory filing with no material impact on shareholders. The only non-compliance was a temporary board composition gap that has already been corrected, and the associated fines (totalling ~Rs 5.78 lakh including GST) are negligible and have been paid. No ongoing governance concerns remain.