Non applicability of Regulation 23(9) of the SEBI (LODR) Regulations, 2015
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Pearl Green Clubs and Resorts, whose shares trade on the BSE SME platform, has informed the exchange that Regulation 23(9) of SEBI's Listing Obligations and Disclosure Requirements does not apply to it. Under Regulation 15(2), companies listed on the SME exchange with paid-up equity capital not exceeding ₹10 crore and net worth not exceeding ₹25 crore are exempt from several corporate governance provisions, including Regulation 23(9), which deals with half-yearly disclosure of related party transactions. Since the company meets both the SME listing and size thresholds (as of the last day of the previous financial year), this compliance requirement is not mandatory for the half-year ended March 31, 2025.
This is a routine, procedural disclosure and has no material effect on shareholders or the share price. Investors should simply note that related party transaction disclosures under Regulation 23(9) will not be filed for the relevant period due to the company's SME-listed, small-cap status.