Annual Secretarial Compliance Report for the Financial Year 2024-25
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Paul Merchants Ltd submitted its Annual Secretarial Compliance Report for the financial year ended March 31, 2025 to BSE on May 28, 2025, as required under SEBI LODR Regulation 24A. The report, issued by Practicing Company Secretary Mr. Kanwaljit Singh Thanewal, confirms overall compliance with SEBI regulations, secretarial standards, related-party transaction norms, insider trading rules, and disclosure requirements. One non-compliance was flagged under Regulation 17(1A) of SEBI LODR regarding Mrs. Tejinder Kaur, a non-executive director who ceased to be a director on the very day she turned 75 years old. BSE initially imposed a penalty of Rs. 2,000 (excluding taxes), but withdrew it after the company represented that there was no actual violation.
No meaningful impact on shareholders — the single compliance lapse was a technical issue around the exact cessation date of a director turning 75, which BSE withdrew after the company's explanation. Overall, the report reflects a clean compliance record.