Annual Secretarial compliance report Fy 2024-2025
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Panorama Studios International Ltd filed its Annual Secretarial Compliance Report for FY 2024-25, as required under SEBI's LODR Regulation 24A. During the year, the company sub-divided its equity share face value from Rs. 10 to Rs. 2 per share (5 shares of Rs. 2 each for every 1 share of Rs. 10), approved via an EGM on 2nd July 2024. The report flags two non-compliances: a 1-day delay in submitting audited financial results for the March 2024 quarter, leading to a BSE SOP fine of Rs. 5,900 (paid), and non-compliance with the constitution of the Nomination and Remuneration Committee under Regulation 19(1)/19(2), leading to a Rs. 33,040 penalty with a waiver application (Rs. 11,800 fees paid) still pending with BSE. Past FY 2023-24 issues around RPT disclosure delays and Company Secretary appointment have been resolved, with fines of Rs. 17,700 and Rs. 5,900 paid and compliance restored in the current year.
The disclosed penalties are small and already paid, but the pending waiver application on the NRC composition issue may remain an overhang. The stock sub-division improves liquidity by reducing per-share price, which is neutral to fundamentally positive for retail participation.