Annual Secretarial Compliance Report for the financial year ended March 31, 2025.
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Nitco Ltd submitted its Annual Secretarial Compliance Report for FY2024-25, reviewed by Practicing Company Secretary Mihen Halani & Associates. The report confirms overall compliance with SEBI regulations and good corporate practices. Two items were flagged as deviations: (1) Regulation 31(2) – 4,242 equity shares (0.01% of promoter holding) remain in physical form, with the company working on dematerialization, and (2) a past SEBI show cause notice regarding non-compliance with IND-AS 36, 109, 24 and Listing Regulations 4, 17, 33, 34 and 48, which was settled by paying Rs. 49.40 lakh on February 21, 2025, under SEBI's settlement order dated February 28, 2025. All other compliance areas – secretarial standards, insider trading, related party transactions, board evaluations, and disclosures – were marked satisfactory with no additional non-compliance observed.
This is largely a routine annual compliance disclosure with no new material issues. The SEBI settlement has already been paid and resolved, and the unresolved promoter demat gap is negligible at 0.01%. No meaningful impact on shareholders or stock price is expected.