Please find attached herewith Annual Secretarial Compliance Report for the year ended March 31, 2025.
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IIRM Holdings India Ltd (formerly Sudev Industries) filed its Annual Secretarial Compliance Report for FY ending March 31, 2025, which flagged around 12 compliance lapses during the year. The company paid BSE fines totalling about Rs 2.84 lakh for delays in appointing a Company Secretary and late submission of financial results, plus Rs 88,500 in CSE fines. Key issues included failing to have half its board as independent directors until August 2024, incomplete related party transaction disclosures across its subsidiaries (India Insure Risk Management, IIRM Global Shared Services, IIRM Wellness, IIRM Lanka, and IIRM Maldives), delayed intimation of a director's designation change, and an undisclosed SEBI settlement order received by its promoter in January 2025. A Rights Issue was initiated during the year but remains pending completion.
The report reveals meaningful governance and disclosure weaknesses, including unpaid fines, an SEBI warning, and suspension on the Calcutta Stock Exchange. While most issues have since been regularised or are being addressed, retail investors should view this as a yellow flag on management quality and compliance culture.