Submission of certificate under comppliance Reg. 24A for the year ended 31.03.2026
RAJRILTD · price
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Raj Rayon Industries has submitted its Secretarial Compliance Report for FY ended March 2026. While most routine compliance areas (secretarial standards, policies, website, insider trading) show 'Yes' for compliance, the report reveals serious ongoing violations. The company has failed to achieve Minimum Public Shareholding (MPS) under Regulation 38 of SEBI LODR. Both BSE and NSE have levied cumulative fines across multiple quarters from September 2024 to December 2025, totaling lakhs per exchange per quarter, which remain unpaid. Most critically, exchanges have frozen the entire demat accounts of promoters and promoter group until compliance is achieved. The company was previously under IBC and attempted an Offer for Sale (OFS) in FY 2024-25 to meet MPS but failed to do so on time. Management has not taken any corrective action to comply with MPS requirements.
This is a significant red flag for investors. The promoter demat freeze means promoters cannot sell shares, and the company remains in violation of a fundamental listing requirement. Unpaid regulatory fines add financial and legal risk. The stock may face continued exchange action or potential delisting proceedings if MPS is not achieved.