Annual Secretarial Compliance Report 2024-25
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Awaiting price reaction for this filing.
Kerala Ayurveda Limited submitted its Annual Secretarial Compliance Report for FY ended 31 March 2025, issued by SVJS & Associates. The report flagged around 21 compliance deviations, though none attracted any fines. Key issues include: related party transactions with Ayurvedagram Heritage Wellness Centre exceeding SEBI's materiality limits in FY2024-25, for which shareholder approval is being sought; the board lacked the required proportion of independent directors from 19 March to 31 March 2025 after a new non-independent director was added; an independent director vacancy was filled late after the term expiry of Mr. Subramaniam Krishnamurthy on 23 September 2024; the Annual Report for FY2023-24 incorrectly stated no shares in demat suspense account despite 1,323 shares being outstanding; and promoter encumbrance declaration under SEBI Takeover Regulations was not filed within the 7-working-day window. Multiple stock exchange intimations (resignations, appointments, board meeting outcomes) were filed late or in non-searchable/non-DSC-authenticated formats. Management stated steps are being taken to ensure compliance going forward.
This is a procedural/governance filing, not a financial one. While the list of deviations is long, no monetary penalties were imposed, and the issues appear largely clerical or timing-related. Shareholders should note the material RPT breach with Ayurvedagram Heritage Wellness Centre as the most substantive item, along with recurring lapses in board composition and timely disclosures that point to governance weaknesses. Minimal direct impact on stock price is expected from this filing itself.