Enclosed herewith the declaration regarding non-applicability of regulation 24A of SEBI(LODR), 2015 for your information.
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Katare Spinning Mills Ltd has submitted a declaration to BSE stating that Regulation 24A of SEBI (LODR), 2015, which requires filing of an Annual Secretarial Compliance Report, is not applicable to the company. The exemption is claimed under Regulation 15(2) because the company's paid-up capital of Rs. 2,85,00,000 (Rs. 2.85 crore) and net worth of Rs. 4,39,10,733 (Rs. 4.39 crore) as on 31 March 2024 are both below the Rs. 25 crore threshold. A chartered accountant's net worth certificate has been enclosed to support the claim. The filing confirms the company's small-cap status, qualifying it for reduced compliance requirements under multiple SEBI LODR regulations.
This is a routine compliance filing with no direct impact on stock price. However, the underlying numbers show the company's net worth has declined sharply from Rs. 6.26 crore (FY23) to Rs. 4.39 crore (FY24), primarily due to a drop in retained earnings, which shareholders may want to monitor.