Non Applicability of Annual Secretarial Compliance report for financial year 2024-2025
Awaiting price reaction for this filing.
Fourth Generation Information Systems Ltd has informed the BSE that it is not required to file the Annual Secretarial Compliance Report for the financial year ended 31 March 2025. The company claims exemption under Regulation 15(2) of SEBI LODR Regulations, 2015, which applies to listed companies whose paid-up equity share capital does not exceed Rs. 10 Crores and networth does not exceed Rs. 25 Crores. As on 31 March 2024, the company reported a paid-up capital of Rs. 3.55 Crores and a negative networth of Rs. (53.97 lakhs), making it eligible for this exemption. The filing was signed by Managing Director C N Somasekhara Reddy.
This is a routine procedural filing and has no direct impact on the stock price. However, the negative networth is a concern for shareholders as it indicates the company's liabilities exceed its assets, pointing to weaker financial health.