Enclosed is the annual secretarial compliance report for the year ended March 31, 2025
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Precision Electronics has submitted its Annual Secretarial Compliance Report for FY25, reviewed by Harish Popli & Associates. The report flagged several compliance gaps during the year, including promoter Mr. Hans Jurgen Wagner's shares not being in dematerialized form, appointment of independent director Mr. Dinesh Kumar Batra through an ordinary resolution instead of a special resolution, and remuneration paid to executive director Mr. Nikhil Kanodia (April 1 to August 11, 2024) without the required shareholder special resolution approval. Related party transactions involving promoter-executives were not taken to the Audit Committee for prior approval. A one-day delay was noted in newspaper publication of May 2024 results, and the Company received a SEBI caution letter for not maintaining the Structural Digital Database under insider trading rules, though no fine was imposed — the Company has since deployed compliant software from October 25, 2024. Most prior-year observations (filing delays, wrong data submissions) have been remediated.
Multiple compliance lapses were flagged but no monetary penalties were imposed, and the Company has addressed most issues. Shareholders should note the repeated governance shortcomings around promoter shareholding, board resolutions, and related party approvals, which may weigh on investor confidence despite the lack of fines.