Please find enclosed Annual Secretarial Compliance Report for the financial year ended on March 31, 2026.
MOREPENLAB · price
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Morepen Laboratories has received its Annual Secretarial Compliance Report from Practicing Company Secretary Praveen Dua. While most compliance areas (secretarial standards, policies, website disclosures, related party transactions, insider trading) show satisfactory compliance, a critical unresolved issue remains. The company had cancelled 5,062,872 equity shares per a Hon'ble NCLT Chandigarh order, but the Register of Members has not been updated to reflect this cancellation. Stock Exchanges have refused to give effect to the capital reduction citing non-compliance with the NCLT order terms. This same observation was flagged in the previous year's report (FY 2025) but remains unresolved. The company states it is exploring legal solutions and engaging with exchanges to find resolution.
This ongoing non-compliance with the NCLT order could pose listing/regulatory risks for the company. Until the Register of Members is updated to match the NCLT order, stock exchanges will not align the listed capital, creating uncertainty around the official share capital structure.