Please find enclosed herewith 24A Secretarial Compliance report for the FY ended on 31-03-2025 for your reference.
PREMIERPOL · price
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Premier Polyfilm Ltd submitted its Annual Secretarial Compliance Report for FY 2024-25, prepared by Sumit Bajaj & Associates, Practicing Company Secretaries. The company was found generally compliant with SEBI LODR Regulations, including secretarial standards, website disclosures, insider trading rules, and corporate governance norms. However, one non-compliance was flagged: the company failed to obtain prior shareholder approval for certain related party transactions for FY 2023-24, violating Regulation 23 of LODR Regulations. SEBI issued a show cause notice on May 17, 2024, and after adjudication proceedings, imposed a penalty of Rs. 3 lakh on the company under Section 15HB of the SEBI Act. The company has paid the penalty in time and obtained retrospective shareholder approval in September 2023 EGM, and has committed to stricter compliance going forward.
Minor negative — a Rs. 3 lakh SEBI penalty for a past related-party transaction compliance lapse, already paid. The issue is closed and largely behind the company, with no further impact on operations. Investors may note this as a one-time governance flag rather than a recurring risk.