The Exchange had sought clarification from Jullundur Motor Agency (Delhi) Limited for the quarter ended 31-Mar-2025 with respect to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. On basis of above the Company was required to clarify the following: -1. Financial results not signed by authorized signatory/ies The response of the Company is enclosed.
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NSE sought clarification from the company on why its audited financial results for Q4 and FY ended March 31, 2025 were not signed by the usual authorized signatory. The company explained it has no Managing Director or Whole-time Director, and its Non-executive Chairman, CA Subhash Chander Vasudeva, is a practicing Chartered Accountant bound by the ICAI Code of Ethics to avoid signing documents that can be authorized to another person. The Board, via resolution dated May 29, 2025, authorized Non-executive Director Smt. Shuchi Arora to sign the results. The company added that board meetings are held via video conferencing and the Chairman attends from Delhi, making it difficult to physically sign and upload results within SEBI's tight 30-minute/3-hour window, while Shuchi Arora is based in Gurugram near the registered office.
This is a routine procedural compliance clarification rather than a negative corporate action. No financial misstatement, penalty, or governance red flag is indicated — the company has a reasonable, documented explanation and proper board authorization in place. Shareholders are unlikely to see any material impact on the stock price.