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Royale Manor Hotels & Industries Ltd has submitted its Annual Secretarial Compliance Report for FY 2025-26, reviewed by Mrs. Rupal Patel, Practicing Company Secretary. The report confirms broad compliance with SEBI regulations including LODR, ICDR, SAST, and Insider Trading norms. However, a recurring issue persists: 100% promoter shareholding is not in dematerialized form as required under Regulation 31(2), despite repeated requests by management to promoters. The previous year's report showed a ₹2,360 fine for 1-day late submission of secretarial compliance. Additionally, the CFO changed (Devraj Singh Chauhan resigned June 3, 2025; Sonu Shah appointed June 4, 2025), and board meeting notices for June and September 2025 were not uploaded to BSE as required.
The recurring dematerialization non-compliance is a governance red flag as it violates SEBI's continuous listing requirements. Shareholders should note that while no major violations were found, the company continues to struggle with promoter-level compliance and board meeting disclosure procedures.