Annual Secretarial Compliance Report issued by Practicing Company Secretary under Reg.24A of the LODR Regulations, 2015 for the financial year ended 31.03.2025.
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Kanishk Steel Industries has filed its Annual Secretarial Compliance Report for the financial year ended 31 March 2025, as required under SEBI LODR Regulation 24A. The Practicing Company Secretary (M K Madhavan & Associates) certified that the company generally complied with applicable SEBI regulations and circulars during the review period. One key non-compliance was a delay in submitting the Annual Report under Regulation 34, which led BSE to levy a fine of Rs. 84,000 plus 18% GST (totalling Rs. 99,120). The delay was caused because the company initially uploaded the Annual Report under the General Corporate Announcements section due to its large file size, instead of the prescribed Annual Report section. The company has since filed an application for waiver of the fine and paid a processing fee of Rs. 11,800. Previous-year observations also flagged delays in related party transaction disclosures, Annual Report FY2022-23 filing, promoter shareholding disclosures, and insider trading disclosures.
The fine amount is modest for a listed company, and the outcome of the waiver application is pending, so the near-term financial hit is limited. However, repeated delays in statutory filings and pending fines are minor governance red flags that investors should track, as they reflect on the company's compliance culture.