Annual Compliance Secretarail Report for the financial year ended March, 31, 2025
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Lorenzini Apparels Ltd filed its Annual Secretarial Compliance Report for FY2024-25, prepared by Anuj Gupta & Associates, Practising Company Secretaries, as required under Regulation 24A of SEBI LODR Regulations. The review covered compliance with SEBI Act, SCRA, ICDR, Insider Trading, and other key regulations. While the company was generally compliant with secretarial standards, policies, website disclosures, and insider trading norms, three non-compliances were flagged: (1) a 5-month delay in meeting the lock-in requirement for listed convertible warrants under ICDR Regulation 167(2), prompting an advisory letter from NSE; (2) a delay in filing the reclassification of status application under LODR Regulation 31A, leading to warning letters from NSE and BSE; and (3) non-compliance with Board composition requirements under LODR Regulation 17, for which NSE and BSE each levied a fine of Rs. 1,10,000 (total Rs. 2,20,000). Management has noted the observations and committed to compliance going forward.
This is a routine mandatory annual filing, but it discloses that the company faced regulatory penalties (Rs. 2.2 lakh total) and stock exchange warnings for lapses in board composition and filing timelines. While the amounts are small relative to a listed entity, repeated non-compliance with governance norms could weigh on investor sentiment and invite closer scrutiny.