Pursuant to Regulation 24A of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with relevant SEBI Circular(s), we are ....
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ISL Consulting Limited has filed its Annual Secretarial Compliance Report for FY2024-25, certified by Practicing Company Secretary Keyur J. Shah & Associates, confirming the company generally complied with SEBI LODR regulations, secretarial standards, and disclosure norms. However, BSE levied two fines for non-compliance under Regulation 17(1) and 18(1) related to board and audit committee composition: Rs. 5,21,560 for Q2 FY25 (withdrawn in December 2024 after a successful waiver application) and Rs. 4,30,700 for Q3 FY25 (waiver application pending verification with BSE). No additional non-compliances, no auditor resignations, and no disqualified directors were reported during the year. The company has no material subsidiaries and all related party transactions received prior audit committee approval.
Repeated fines for board/committee composition issues under Regulation 17(1) signal minor governance lapses, though the company is actively using the waiver route to avoid penalties. Investors should watch whether the second waiver is granted; otherwise, a Rs. 4.3 lakh fine may be realized. Overall, no major red flags on the broader compliance front.