Please find enclosed the Annual Secretarial Compliance Report for the year ended March 31, 2025.
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PB Fintech has submitted its Annual Secretarial Compliance Report for FY25, confirming overall compliance with SEBI listing regulations, secretarial standards, and insider trading rules. The report flags three governance matters: (1) an insider trading violation by designated person Naveen Kukreja, who was issued a warning and paid a Rs. 11 lakh penalty deposited with SEBI's Investor Protection Fund on March 21, 2025; (2) a SEBI show cause notice to Chairman & CEO Yashish Dahiya over a USD 2 million Dubai investment in YKNP Marketing Management (26.72% stake in November 2022), resolved via a settlement order dated March 4, 2025 with Rs. 9.42 lakh paid; and (3) an NSE query about the announcement of PB Healthcare Services incorporation, which the company responded to on February 6, 2025. All other compliance items, including director qualifications, related party transactions, and disclosures, were found satisfactory.
No major negative implications for shareholders — both the insider trading penalty and the CEO-related SEBI matter were resolved through penalties and settlement, not enforcement action against the company itself. The disclosure reinforces governance transparency but the incidents may draw short-term attention from investors focused on compliance culture.