As per the Regulation 15(2)(a) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Regulation 23(9) is applicable to only those listed entity having Equity paid ....
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Awaiting price reaction for this filing.
Kajal Synthetics & Silk Mills has informed BSE that SEBI's Regulation 23(9), which requires listed companies to disclose related party transactions every six months, does not apply to the company. The regulation applies only to listed entities whose paid-up equity capital exceeds Rs. 10 crore AND net worth exceeds Rs. 25 crore. As of March 31, 2024, the company's paid-up equity capital stood at Rs. 199.20 lakhs (around Rs. 1.99 crore) and its net worth was negative at Rs. 576.72 lakhs, both well below the required thresholds. The company has therefore requested BSE to take this on record and confirmed it is not required to submit half-yearly related party transaction disclosures.
This is a routine compliance filing with no direct impact on shareholders or the stock price. However, the negative net worth of Rs. 5.77 crore is a notable red flag about the company's financial health, indicating accumulated losses that exceed its capital base.