Annual Secretarial Compliance Certificate for FY 2024-25
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Picturehouse Media Ltd has submitted its Annual Secretarial Compliance Report for FY 2024-25 to BSE. The Practicing Company Secretary flagged several non-compliances with SEBI LODR Regulations. These include a one-day delay in filing related party transaction (RPT) disclosures for the half-years ending March 2024 and September 2024, attracting a fine of Rs. 11,800. The company failed to obtain prior shareholder approval for material RPTs entered with BVR Malls Pvt Ltd and New Cyberabad City Projects Pvt Ltd for FY 2024-25. The XBRL filing of trading window closure for the quarter ended December 2023 was delayed beyond the 24-hour window. The composition of the Nomination and Remuneration Committee was non-compliant during three periods in FY 2023-24 (June, August, and October–November 2023), resulting in a Rs. 89,680 fine. Additionally, the company did not properly maintain the Structured Digital Database for recording sharing of unpublished price-sensitive information related to quarterly financial results.
Multiple governance and disclosure lapses, including unresolved material RPT approval issues and cumulative fines exceeding Rs. 1 lakh, may undermine investor confidence and expose the company to further regulatory action.