Annual Secretarial Compliance Report for the financial year 2025-26
HBSL · price
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HB Stockholdings Ltd has submitted its Annual Secretarial Compliance Report for FY 2025-26 prepared by A.N. Kukreja & Co, Practicing Company Secretaries. The report reveals a pending SEBI investigation where SEBI passed an Ex-Parte Interim Order cum Show Cause Notice against the Company alleging violations of SEBI PFUTP Regulations, 2003 regarding fraudulent and manipulative securities market practices. SEBI recommended impounding Rs. 242.38 Lakhs of alleged unlawful gains. The Company has submitted a detailed reply to SEBI and deposited the amount in a fixed deposit, with the matter currently pending. Additionally, BSE and NSE had fined the Company Rs. 1,98,240 each for alleged non-compliance with Regulation 17(1A) regarding appointment of an independent director above 75 years, which the Company paid under protest. Apart from these, the Company has complied with all other applicable SEBI regulations, Secretarial Standards, and disclosure requirements during the review period.
The pending SEBI investigation and potential disgorgement of Rs. 242.38 Lakhs could negatively impact the Company's financials and reputation. However, the Company maintains it has acted in good faith. Shareholders should monitor the outcome of the SEBI matter and SAT proceedings closely.