Please find attached herewith the Annual Secretarial Compliance Report issued by PCS for the year ended on 31.03.2025
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Sadbhav Engineering has filed its Annual Secretarial Compliance Report for FY25, reviewed by Practicing Company Secretary Ravi Kapoor & Associates. The company is compliant with most SEBI regulations covering secretarial standards, policies, website disclosures, director qualifications, subsidiary disclosures, document preservation, board evaluations, related party transactions, and insider trading norms. However, the report flagged non-compliance with Regulation 17(1) regarding the timely appointment of a woman director after two board resignations (Mr. Sandip Patel on 31-07-2024 and Ms. Anjali Choksi on 17-01-2024), attracting two BSE fines of Rs 3,05,000 + GST each. The company subsequently appointed Ms. Sheli Patel as woman director on 16-07-2024 to restore compliance. A prior fine of Rs 30,000 + GST for non-compliance with Regulation 60(2) on record date intimation was also noted. No actions were taken by SEBI, no auditor resignations occurred, and no additional non-compliances were observed.
The disclosed fines for delayed woman director appointment are minor and have already been paid, with compliance now restored. For shareholders, this is a routine annual compliance confirmation with no material impact on operations or stock price.