Please find enclosed herewith the Annual Secretarial Compliance Report in compliance with Regulation 24 (A) of SEBI (LODR) Regulations, 2015 for the year ended 31.03.2025.
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Nova Iron & Steel Ltd has submitted its Annual Secretarial Compliance Report for FY 2024-25, reviewed by K V Bindra & Associates (Practicing Company Secretaries). The company is broadly compliant with SEBI regulations covering insider trading, related party transactions, secretarial standards, and corporate governance. However, three instances of delayed submission of unaudited quarterly financial results were noted — March 2024 quarter (fine Rs. 1,90,000 + GST, paid August 2024), June 2024 quarter (Rs. 1,15,000 + GST, paid September 2024), and September 2024 quarter (Rs. 55,000 + GST, paid November 2024). All fines have been paid and the company has subsequently complied with the regulations. Prior year issues included a Rs. 94,400 fine for delayed results and Rs. 5,900 for delayed Related Party Transaction disclosures under Reg 23(9), both settled. No director disqualifications, no SEBI actions beyond fines, and no additional non-compliances were observed.
Minor negative — repeated delays in quarterly results filing led to cumulative BSE fines of around Rs. 4.6 lakh plus GST, signalling weak compliance discipline. However, all fines are paid and the company now appears compliant, so the impact is limited but worth monitoring for recurrence.