Annual Secretarial Compliance Report for the Financial Year ended 31st March, 2025
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Awaiting price reaction for this filing.
The company has filed its Annual Secretarial Compliance Report for FY2024-25, submitted by Alpesh Vekariya & Associates, Practising Company Secretaries. The report flags multiple non-compliances with SEBI LODR Regulations during the year. BSE levied fines of approximately INR 5.37 lakh (including GST) for non-compliance with Board composition requirements under Regulation 17, and INR 87,320 (including GST) for non-compliance with the constitution of the Audit Committee under Regulation 18, which was deficient for 36 days. Additional lapses were noted under Regulations 30, 34, and 47, including late submission of board meeting outcomes by 26 minutes, non-filing of certain intimations in XBRL mode, submission of the Annual Report under the wrong category, and non-publication of financial results and EGM/AGM notices in newspapers for the quarter ended June 2024. The company has submitted waiver applications to BSE for the Board composition and Audit Committee fines and has assured improved compliance going forward.
Negative signal for shareholders — the report reveals persistent governance and disclosure lapses, attracting BSE fines of over INR 6 lakh and exposing weaknesses in board composition, audit committee constitution, and timely XBRL/newspaper filings. This may dent investor confidence and prompt closer regulatory scrutiny.