Regulation 24A of SEBI(LODR) Regulations, 2015- Annual Secretarial Compliance Report for the FY 2024-2025
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Rathi Bars Limited submitted its Annual Secretarial Compliance Report for FY 2024-25, prepared by M/s PWR Associates, Practicing Company Secretaries. The report flagged several compliance lapses during the year, including late submission of financial results (fine of Rs. 1,71,110 paid), late filing of the Secretarial Compliance Report in XBRL format (fine of Rs. 35,400 paid), and delay in disclosing related party transactions under Regulation 23(9). The company also received queries from BSE regarding a mismatch in PAN details of promoter/promoter group between NSDL and BSE filings, and for not holding a Stakeholder Relationship Committee meeting during FY 2023-24. The company has stated it will be more vigilant in future to avoid such non-compliances.
The disclosure of fines and compliance lapses may raise governance concerns among retail investors, though the penalties are modest relative to the company's size. Investors should monitor whether the company improves its filing timelines going forward, as repeated non-compliance could attract stricter regulatory scrutiny.