Pursuant to Regulation 24A of SEBI (LODR) Regulations, 2015 read along with SEBI Circular CIR/CFD/CMD1/27/2019 dated February 8, 2019, we are enclosing herewith the Annual Secretarial Compliance ....
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The Indian Wood Products Company Ltd has filed its Annual Secretarial Compliance Report for the financial year ended 31 March 2025, as required under SEBI LODR Regulation 24A. The report, issued by Practicing Company Secretary CS Md. Shahnawaz, confirms that the company is largely compliant with applicable SEBI regulations and secretarial standards. However, two non-compliances were flagged: (1) incorrect disclosure in the Q2 FY25 corporate governance report where a member of the Stakeholder Relationship Committee was wrongly shown as Chairperson, attracting a BSE fine of Rs 2,17,120 for which the company has applied for waiver citing a typo error; and (2) the Nomination and Remuneration Committee was not duly reconstituted after an independent director's tenure ended, attracting a fine of Rs 59,000 which the company has already paid. Total fines amount to roughly Rs 2.76 lakh. The company has no material subsidiaries and no statutory auditor resignations during the year.
Minor governance-related fines (totalling about Rs 2.76 lakh) have been levied by BSE for committee constitution issues, with one waiver application pending and one fine already paid. These are small monetary penalties for a listed entity and unlikely to materially affect the stock price, though investors should note the governance lapses and watch for the waiver outcome.