ANNUAL SECRETARIAL COMPLIANCE REPORT FOR FY 2024-25
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Hilltone Software and Gases Ltd has filed its Annual Secretarial Compliance Report for the financial year ended 31 March 2025, certified by practicing company secretary CS Hussain Abdeali Bootwala. The report confirms compliance with SEBI LODR Regulations, secretarial standards, insider trading norms, related party transaction rules, and other applicable SEBI regulations across all key areas. However, BSE levied a penalty of Rs. 29,500 during the year for non-compliance with Regulation 17(1)(b) of SEBI LODR related to board composition — the Chairperson was a non-executive director but the board lacked the required proportion of independent directors. The company has paid the penalty and rectified the issue by restructuring its board on 3 January 2025, with an independent director resigning around that time. No other non-compliances or auditor resignations were observed during the year.
This is a routine annual compliance filing with no major red flags. The BSE penalty of Rs. 29,500 is minor and has already been paid and rectified, so it should not materially affect shareholders. The report shows the company generally maintains good compliance standards, which is a neutral-to-positive signal for governance.