In compliance with Regulation 24A of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 please find the enclosed Annual Secretarial Compliance Report issued by M/s. ....
Awaiting price reaction for this filing.
NFCL submitted its Annual Secretarial Compliance Report for FY25, prepared by KBG Associates, covering compliance with SEBI LODR Regulations. Three filing delays were flagged during FY25: (1) Q1 FY25 results (June 30, 2024) were filed late on September 16, 2024, attracting a fine of ₹1,88,800 each from BSE and NSE; (2) the FY24 annual results filing mistakenly included a Consolidated Cash Flow Statement instead of a Consolidated Balance Sheet, leading to fines of ₹1,06,200 (BSE) and ₹1,71,100 (NSE); and (3) the half-yearly Related Party Transactions report for September 30, 2024 was delayed, drawing ₹23,600 fine each from BSE and NSE. All fines have been paid. A prior FY24 observation about missing an Independent Director (Regulation 17) was resolved after appointing Mr. Sudhakar Kudva, and the ₹3,85,000 fine per exchange was waived. The company remains under NCLT admission (August 2021) with a continuing stay from NCLAT Chennai, and cited major staff attrition in finance and accounts as a key reason for the delays.
Repeated filing delays and penalties raise governance and operational concerns for shareholders, though all fines are paid and the company is now catching up on compliance. The ongoing NCLT/NCLAT status and significant staff attrition remain underlying risk factors that investors should monitor.