Intimation of submission of Annual Secretarial Compliance Report for the period ended of March, 2025.
Awaiting price reaction for this filing.
S R Industries Limited (formerly under insolvency) submitted its Annual Secretarial Compliance Report for FY 2024-25, certifying overall compliance with SEBI LODR regulations. The company emerged from the Corporate Insolvency Resolution Process (CIRP) after the NCLT approved Bazel International Limited as the successful resolution applicant on July 1, 2024. Post-resolution, the company allotted 1.96 crore equity shares (95% to new promoters, 5% to public) and issued 1.65 crore compulsorily convertible debentures (CCDs) of Rs. 10 each at 0.01% to Bazel International, convertible within 18 months. The Board was reconstituted on November 22, 2024, and M/s Krishan Rakesh & Co. was appointed as statutory auditor. One minor non-compliance was noted: a delay in filing the XBRL Corporate Governance Report for the quarter ended December 2024, leading to a BSE fine of Rs. 1,06,200.
The filing is largely procedural and confirms post-insolvency restructuring is complete, with new promoters in control and a fresh board in place. The BSE fine for late XBRL filing is minor and was subsequently rectified, with no broader regulatory action against the company.