Annual Secretarial Compliance Report for March,2025
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J.A. Finance Ltd submitted its Annual Secretarial Compliance Report for the financial year ended 31st March 2025 to BSE (scrip code 543860) and Calcutta Stock Exchange. The report, certified by Practicing Company Secretary Shikha Naredi, confirms that the company complied with applicable SEBI regulations, secretarial standards, insider trading rules, related party transaction rules, and disclosure timelines. However, BSE imposed Standard Operating Procedure (SOP) fines under SEBI LODR Regulations 17(1), 18(1), 19(1), 19(2) and 20(2)(2A), which relate to board composition and committee requirements. The company filed a waiver application on 21 February 2025 seeking relief from the penalty of Rs. 11,94,160, and BSE's response is still awaited.
The pending BSE waiver on a ~Rs. 11.95 lakh penalty is a minor overhang, but the company has actively sought relief. Otherwise, the clean compliance report on disclosure and governance fronts is neutral to mildly positive for shareholders.