Non-applicability declaration
Awaiting price reaction for this filing.
Fourth Generation Information Systems Ltd has declared that it is not required to submit the Annual Secretarial Compliance Report under Regulation 24A of SEBI (LODR) Regulations. The company claims exemption under Regulation 15(2), which applies to listed entities with paid-up capital not exceeding Rs 10 Crores and net worth not exceeding Rs 25 Crores. As per the filing, as on 31 March 2025, the company's paid-up capital was Rs 3.55 Crores (within threshold) but its net worth was negative at Rs -1.39 Crores. The negative net worth indicates the company has exhausted its equity base and is technically insolvent.
While the exemption means lighter compliance requirements, the company's negative net worth of Rs 1.39 Crores signals significant financial distress and potential risk to shareholders, warranting careful monitoring.