Annual Secretarial Compliance report for the financial year ended March 31, 2025
PCJEWELLER · price
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PC Jeweller has filed its Annual Secretarial Compliance Report for FY2024-25, audited by R S Sharma & Associates, as required by SEBI regulations. The report flags three instances of non-compliance that attracted stock exchange fines: (1) board composition issue involving a Non-Executive Independent Director over 75 years of age — fine of Rs 2.17 lakh (incl. GST), (2) delay in submitting Postal Ballot voting results — fine of Rs 11.8 lakh (incl. GST), and (3) delay in filing trading approval applications after warrant conversion — fines of Rs 23,600 from BSE and Rs 47,200 from NSE. The company states it has since complied with requirements and paid all fines. On the previous year's observations around delayed disclosures of loan defaults, NPA status, and resolution plan info, the company settled the matter with SEBI, which passed an order on January 24, 2025. The company is otherwise compliant on secretarial standards, related party transactions, insider trading, and website disclosures.
While the company has cleared past compliance overhangs via the SEBI settlement, three fresh non-compliances with combined fines of roughly Rs 3 lakh highlight ongoing governance and disclosure lapses, which may concern investors tracking PC Jeweller's compliance track record, though the amounts are not material to financials.