Pursuant to Regulation 24A of SEBI (LODR) Regulations 2015, read with SEBI circular No. CIR/CFD/CMD1/27/2019 dated February 08, 2019, please find enclosed copy of the Annual Secretarial ....
NECCLTD · price
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Awaiting price reaction for this filing.
North Eastern Carrying Corporation Ltd filed its Annual Secretarial Compliance Report for FY 2024-25, certified by practicing company secretary A.K. Friends & Co. The company is broadly compliant with SEBI (LODR) Regulations, including secretarial standards, policy adoption, website disclosures, related party transactions, and insider trading norms. However, the report discloses an ongoing SEBI matter where promoters Vanya Jain and Utkarsh Jain were each penalised Rs. 10 lakh by SEBI in February 2023 for alleged violations of PFUTP Regulations; both have filed appeals at the Securities Appellate Tribunal (SAT). Annexure-1 also lists several past non-compliances relating to board composition, committee constitution, and delayed submission of financial results, for which remedial actions have been reported.
Largely a routine annual compliance filing, but the SEBI penalty against promoters and pending SAT appeal remain governance concerns for shareholders. Investors should watch the outcome of the SAT proceedings as it could affect promoter standing and the company's reputation.