Poddar Housing and Development Limited has informed the Exchange regarding ''.
Awaiting price reaction for this filing.
Poddar Housing and Development Limited has filed its annual Secretarial Compliance Report for the financial year ended March 31, 2024, certifying compliance with SEBI regulations. While the Practising Company Secretary reported no qualifications, the report highlights multiple non-compliances that attracted Standard Operating Procedure (SOP) fines from both BSE and NSE. These include repeated delays in submitting audited and unaudited financial results for the quarters ending March 2023, June 2023, and September 2023, with BSE levying fines of around Rs 13.85 lakh and NSE around Rs 19.48 lakh for these delays. Additional fines were imposed for non-submission of voting results, shareholder complaints, shareholding pattern, related party transaction disclosures, and prior intimation of board meetings. The exchanges also froze the demat accounts of the promoters as a penalty. Furthermore, the report flags that the board composition (4 directors) and various committee compositions were not in compliance with SEBI LODR Regulations 17, 18, 19, and 20 as of March 31, 2024.
The pattern of repeated non-compliances, regulatory fines running into tens of lakhs, frozen promoter demat accounts, and non-compliant board composition signals weak governance and disclosure practices, which may weigh on investor confidence and the stock price. Shareholders should monitor whether the company rectifies its board composition and filing timelines going forward.