Submission of Regulation 23(9) of SEBI (LODR) 2015 - Non - Applicability certificate
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National Oxygen Ltd has informed BSE that Regulation 23(9) of SEBI (LODR), which requires half-yearly disclosure of Related Party Transactions on a consolidated basis, does not apply to the company. The exemption is claimed under Regulation 15(2), which exempts small companies from corporate governance requirements. As of 31 March 2025, the company's paid-up equity share capital is Rs. 5.04 crore (below the Rs. 10 crore limit) and its net worth is negative at Rs. -8.00 crore (below the Rs. 25 crore limit), qualifying it for the exemption. The company commits to comply within six months if the regulation becomes applicable in the future.
The exemption provides temporary relief from compliance costs, but the negative net worth (-Rs. 8 crore) is a serious concern indicating the company has accumulated significant losses eroding shareholder equity. This raises questions about the company's financial health and going-concern status.