Annual Secretarial Compliance Report for 2024-25
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Nivaka Fashions Ltd (formerly B.T. Syndicate Ltd) has submitted its Annual Secretarial Compliance Report for the financial year ended March 31, 2025, as required under SEBI's listing rules. During FY24-25, the company failed to appoint a qualified Company Secretary within the required three-month window after the previous one resigned, attracting a ₹61,000 penalty from MSEI. The company has since appointed a new Company Secretary and Compliance Officer effective January 2, 2025, and has complied with Section 203 of the Companies Act and Regulation 6(1) of SEBI (LODR) Regulations. Three prior-year issues — delayed Related Party Transaction disclosure (Reg. 23(9)), late Financial Results filing (Reg. 33), and inadequate website maintenance (Reg. 46) — were penalized by MSEI but all penalties were later waived off after clarification. The company has no subsidiaries, no director disqualifications, and remains compliant with Secretarial Standards.
The disclosure reveals minor and already-rectified compliance lapses with small penalties, most of which were waived. No SEBI action against promoters or directors, and no material governance red flags — likely neutral to mildly negative for sentiment in the short term.