Pursuant to Regulation 24A of SEBI (Listing Obligation and Disclosure Requirement) Regulations, 2015, please find enclosed herewith Annual Secretarial Compliance Report for the financial ....
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International Conveyors Ltd submitted its Annual Secretarial Compliance Report for the financial year ending 31 March 2025, as required under SEBI's listing rules. The report, signed by practicing company secretary Rajesh Kumar Shaw, found the company broadly compliant across areas such as secretarial standards, board policies, website disclosures, related-party transactions, and insider trading norms. The main lapse was the failure to appoint a new Independent Director within the 3-month window required after a vacancy arose, which triggered fines of Rs 2,53,800 from BSE and Rs 2,77,300 from NSE (around Rs 5.31 lakh total). Management stated it was actively searching for a suitable candidate. No other material non-compliances or regulatory actions were reported during the year.
The penalty is small in financial terms and unlikely to move the stock, but the recurring governance gap around board independence is a mild negative signal. Investors should watch for confirmation that the Independent Director position has been filled, as prolonged non-compliance could invite further exchange scrutiny.