With reference to the captioned subject, please find herewith enclosed Secretarial Compliance Report issued by M/s Mittal V Kothari & Associates, Practicing Company Secretary, for the Year ....
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Awaiting price reaction for this filing.
Poojawestern Metaliks Ltd has filed its annual Secretarial Compliance Report for FY25, audited by M/s Mittal V Kothari & Associates. The company was largely compliant with SEBI LODR regulations, with no penalties or actions from SEBI or BSE during the year. However, several non-compliances were flagged: (1) promoter group members (Priti Sunil Panchmatiya and Kamlaben Harkishan Radia) failed to disclose share sale transactions within the mandatory 2 trading days under PIT Regulation 7(2), with trades worth over ₹54 lakh in October 2024; (2) delays of 15-31 days in logging UPSI sharing entries in the Structured Digital Database; (3) two key announcements related to a Right Issue were filed with physical signatures instead of digital signatures as required by BSE; (4) one Board meeting outcome was uploaded 22 minutes late; and (5) three Independent Directors have not taken the required online proficiency test and two lack a valid Certificate of Registration. Pending promoter disclosures from November 2023 (previous year) were also only filed on May 29-30, 2025.
This is a routine annual compliance filing, so direct stock price impact is limited. However, the repeated delays in insider trading disclosures and SDD logging, plus non-compliance by Independent Directors on registration and proficiency tests, highlight weak governance processes that investors should monitor. No monetary fines were imposed, and the ongoing Right Issue remains the key corporate action to watch.