Annual Secretarial Compliance Report for the Financial year ended 31st March, 2025.
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Indo Us Bio-Tech Ltd has submitted its Annual Secretarial Compliance Report for FY2024-25, as required under SEBI Regulation 24A. The report, issued by Practising Company Secretary CS Amrish N. Gandhi, confirms that the company largely complied with SEBI regulations during the year. However, two instances of non-compliance were flagged: delays in constituting the Audit Committee under Regulation 18(1) of SEBI LODR, which attracted fines of Rs. 10,800 from BSE and Rs. 9,440 from NSE (both inclusive of GST). The company attributed these delays to unforeseen circumstances and challenges in finalising the appointment of independent directors, and has since filed waiver applications with both exchanges. Minor observations were also noted regarding improper maintenance of meeting minutes and an outdated insider trading software system.
The fines paid are small and immaterial to the company's financial position. The compliance lapses appear procedural rather than substantive, and corrective actions along with waiver requests have already been initiated, so the impact on shareholders or stock price is expected to be negligible.