Pursuant to Regulation 24A of SEBI Listing Regulations and SEBI Circular CIR/CED/CMDI/27/2019 dated February 08, 2019, please find the enclosed herewith Annual Secretarial Report of the ....
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Inducto Steel has filed its Annual Secretarial Compliance Report for FY2024-25, confirming that the company has generally complied with SEBI regulations, listing rules, and the Companies Act during the review period. The report highlights several past non-compliances from earlier years (ranging from 2013 to 2022) related to delays in submitting financial results, corporate governance reports, annual reports, and prior intimation of board meetings, for which the company paid cumulative fines of Rs. 3,47,000 to BSE. The company's February 2025 application seeking waiver of the Rs. 3,30,000 SOP fine for delayed September 2022 financial results was rejected by BSE on December 3, 2024. The practising company secretary confirmed compliance with secretarial standards, insider trading norms, related party transaction approvals, and that no director is disqualified or statutory auditor has resigned during the year.
This is a routine regulatory filing showing compliance with disclosure norms. The historical fines are old, already paid, and largely immaterial to the stock. Shareholders may note that the company's waiver request for the largest fine was rejected, meaning the Rs. 3.30 lakh cost is now confirmed, but no new material non-compliance was identified for FY2025.