Annual Secretarial Compliance Report for the year ended 31st March, 2025.
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Manaksia Steels has filed its Annual Secretarial Compliance Report for FY25, certified by Bajaj Todi & Associates. The report confirms compliance with SEBI LODR Regulations, secretarial standards, insider trading rules, related party transactions, and other applicable norms. One alleged non-compliance was flagged: under Regulation 17(1A) of SEBI LODR, relating to the appointment of a Non-Executive Independent Director aged 75 years, where shareholder approval via special resolution was obtained at the 23rd AGM on 18 September 2024 but allegedly not within the three-month window from the date of appointment. NSE levied a penalty of Rs. 1,51,040 for this, and the company has replied to the notice and applied for a waiver. No auditor resignations occurred during the review period.
This is a routine annual compliance filing with one minor regulatory penalty (Rs. 1.51 lakh) for a procedural delay in shareholder approval for a 75-year-old independent director's appointment. The company has contested it and applied for a waiver, so the financial impact is negligible and unlikely to affect shareholders materially.