Compliances report under regulation 24A of SEBI LODR , 2015 for 31.03.2025
RAJRILTD · price
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Awaiting price reaction for this filing.
Raj Rayon Industries filed its annual Secretarial Compliance Report for FY25, which flags that the company has failed to achieve the mandatory Minimum Public Shareholding (MPS) of 25% under SEBI LODR Regulation 38. Fines for the September 2024, December 2024, and March 2025 quarters (Rs. 10.85 lakh and Rs. 10.62 lakh per quarter per exchange) remain unpaid, on top of a Rs. 6.05 lakh fine already paid for the June 2024 quarter. Both BSE and NSE have frozen the entire demat accounts of the promoters and promoter group until the non-compliance is resolved. The company was earlier under IBC proceedings and tried an Offer for Sale to meet MPS but failed. The report notes no action has been taken to fix the previous year's observations. Other areas such as secretarial standards, related party transactions, insider trading, and disclosures were found compliant.
Negative for shareholders — the promoter demat accounts are frozen, MPS non-compliance continues with mounting unpaid fines, and the stock remains under regulatory action by both exchanges. Resolving the MPS shortfall is unresolved from the prior year and may weigh on the stock's trading liquidity and sentiment.