Annual Secretarial Compliance Report for the financial year ended 31.03.2025. For more details kindly refer attached file.
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Panchmahal Steel Ltd has submitted its Annual Secretarial Compliance Report for the financial year ended 31 March 2025, as required under SEBI Regulation 24(A). The report, certified by Practicing Company Secretary Niraj Trivedi, confirms the company complied with most SEBI regulations covering secretarial standards, policies, website disclosures, related party transactions, insider trading, and event disclosures. One non-compliance was identified: the company failed to have two-thirds of Nomination & Remuneration Committee (NRC) members as independent directors under Regulation 19(1)/19(2) of SEBI LODR 2015 during Q3 of FY25. BSE imposed a fine of Rs. 10,000 plus GST via email dated 17 March 2025, which the company has paid. The NRC was subsequently reconstituted with effect from 26 February 2025 to rectify the issue.
Minor governance lapse on NRC composition led to a small regulatory fine of Rs. 10,000 plus GST, but the company has already rectified it. This is unlikely to materially affect shareholders or the stock price as the issue has been resolved and disclosed proactively.