Annual Secretarial Compliance Report for the Financial Year ended on 31st March, 2025.
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Patels Airtemp India Ltd has submitted its Annual Secretarial Compliance Report for the financial year ended 31 March 2025, as required under Regulation 24A of SEBI's Listing Rules. The report, issued by Practicing Company Secretary Punit S. Lath, confirms the company complied with all applicable SEBI regulations during the year, with no new observations, fines, or violations recorded. All key compliance areas — Secretarial Standards, policies, website disclosures, director disqualification checks, document preservation, board performance evaluation, related-party transactions, event disclosures, and insider trading norms — were marked as compliant. Two older SEBI matters were flagged for context: one is a closed case where the company paid Rs. 28.53 lakh in settlement charges related to disclosures in a FY2022-23 EGM notice, and the other is a pending show cause notice concerning the promoter group's alleged indirect acquisition of 26.91% of the company's shares through Therm Flow Engineers Pvt Ltd, for which SEBI's order is awaited.
This is a routine regulatory filing and signals no fresh compliance trouble for FY2024-25, which is positive for shareholders. However, the pending SEBI show cause notice on the promoter group's indirect share acquisition through Therm Flow Engineers remains an unresolved watch item that could affect promoter holding disclosures if SEBI rules against the company.