Annual Secretarial Compliance Report issued by RSM & Co., Company Secretaries, for the period ended March 31, 2025
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Polyplex Corporation has filed its Annual Secretarial Compliance Report for the financial year ended March 31, 2025, issued by RSM & Co., Practicing Company Secretaries. The company is broadly compliant with SEBI (LODR) Regulations, 2015 and other applicable securities laws. One deviation was noted: in a single case, prior Audit Committee approval was not obtained for related party transactions between two subsidiaries, where the transaction value touched 11.03% of the step-down subsidiary's turnover (above the 10% threshold), and the approval was obtained post facto as a special case. No actions, penalties, or warning notices were imposed by SEBI or the stock exchanges during the review period. The previous year's observation about a gap of 189 days between two Risk Management Committee meetings (versus the 180-day requirement) has been remediated with the company committing to strict compliance going forward.
This is a routine annual compliance filing with no material impact on shareholders or stock price. The single procedural lapse involved a related party transaction that was subsequently ratified by the Audit Committee, and no penalty was levied, indicating the issue is minor.