In terms of Regulation 24(a) Securities and Exchange Board of India (LODR) Regulation 2015, we hereby enclose Annual Secretarial Compliance Report of the Company for the year ended March ....
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Polson Ltd submitted its Annual Secretarial Compliance Report for FY ending March 31, 2025, as required under SEBI LODR Regulation 24(A). The report, issued by Practicing Company Secretary Mihen Halani & Associates, flagged three key non-compliances during the year: (1) non-maintenance of a functional website under Regulation 46, which is a continuing issue from the previous year; (2) delay in appointing a Woman Director, for which BSE levied a fine of Rs. 70,800 (paid on May 27, 2024); and (3) non-compliance with Board composition (Woman Director) for the quarter ended September 30, 2024, attracting a BSE fine of Rs. 6,07,700 (paid on December 11, 2024). The company also failed to disclose the fine payment communication to the stock exchange under Regulation 30. Apart from these, the company complied with Secretarial Standards, insider trading norms, related party transaction rules, and other governance requirements.
Repeated corporate governance lapses around Board composition and website maintenance, along with multiple BSE fines totalling over Rs. 6.78 lakhs, signal weak governance discipline. While fines have been paid, the recurring nature of non-compliance is a mild negative for investor confidence, though no fundamental business or financial issue is flagged here.