Pursuant to Regulation 24A of SEBI (LODR) Regulations, 2015 read with SEBI Circular No. CIR/CFD/CMD1/27/2019 dated February 8th, 2019, we are forwarding herewith Annual Secretarial Compliance ....
Awaiting price reaction for this filing.
Nicco Uco Alliance Credit Ltd has submitted its Annual Secretarial Compliance Report for the financial year ended 31 March 2025, as required under SEBI (LODR) Regulations. The Practicing Company Secretary flagged multiple non-compliances: (1) under Regulation 31(2), the promoters' shareholding is not fully held in dematerialized form because some shares belonging to Nicco Corporation Limited are stuck with the official liquidator; (2) under Regulation 44, the company failed to submit voting results within the required time for a postal ballot held on 13 September 2024, attracting a fine of Rs. 18,000 plus GST which remains unpaid; (3) the company is not maintaining a functional website as required under Regulation 46; (4) it is not fully compliant with insider trading reporting under Regulation 3(5) and 3(6) of PIT Regulations; and (5) listing fees to BSE have not been paid on time, with the company awaiting clarification from the exchange. The report confirms compliance with secretarial standards, board policies, director disqualification checks, related party transactions, and preservation of documents.
This filing highlights several ongoing governance and compliance lapses at the company, including unpaid SEBI penalties, a non-functional website, and unresolved promoter shareholding in physical form. For retail investors, these red flags point to weak compliance culture and potential further regulatory action, which could weigh on the stock's credibility and liquidity.