Intimation of Non-Applicability of Regulation 24A for the Financial Year 2025-26
Awaiting price reaction for this filing.
Rushabh Precision Bearings Ltd has informed BSE and NSE that it is exempt from submitting the Annual Secretarial Compliance Report under Regulation 24A for FY 2025-26. The exemption is claimed under Regulation 15(2) of SEBI LODR, which applies to companies with paid-up equity capital up to Rs. 10 crore and net worth up to Rs. 25 crore. As of March 31, 2025, the company's paid-up share capital was Rs. 9 crore, qualifying it for this exemption. However, the company's net worth stands at a negative Rs. 1.38 crore, indicating eroded capital. As a result, Rushabh is also exempt from broader corporate governance requirements including regulations 17-27 and clause (b) to (i) of regulation 46.
Shareholders should note that the company is exempt from mandatory corporate governance disclosures and secretarial compliance reporting, reducing transparency. The negative net worth signals financial stress and potential solvency concerns despite the small capital base.