Annual Secretarial Compliances for March, 2025
LYPSAGEMS · price
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Lypsa Gems & Jewellery submitted its Annual Secretarial Compliance Report for FY 2024-25, reviewed by Practicing Company Secretary Rupal Patel. The report flags several compliance issues: NSE imposed a fine of Rs. 20,060 for not filing the Annual Report for FY ended March 31, 2020, and BSE imposed a fine of Rs. 1,66,380 for delayed shareholding pattern and annual report submissions. The company has filed waiver applications for both, but the BSE waiver response is still pending. An SEBI summon was received in June 2024 regarding financial results preparation, to which the company replied in July 2024. Additional concerns include non-submission of board comments on SDD compliance (now resolved with SDD software obtained), newspaper results not disclosed to stock exchanges under Regulation 47, and pending E-form MGT-7 for FY 2023-24 with MCA. The company disposed of its 100% subsidiary Lypsa Gems and Jewellery DMCC on March 29, 2024.
While this is a routine compliance filing, the multiple unresolved fines, pending waiver applications, and SEBI summon signal ongoing governance and disclosure weaknesses. Shareholders should note unresolved regulatory penalties and monitor whether the BSE waiver is granted, as persistent non-compliance could affect the stock's standing on exchanges.