SANGHVIMOV · price
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Awaiting price reaction for this filing.
Sanghvi Movers has filed its annual Secretarial Compliance Report for FY25, reviewed by KANJ & Co. LLP. The report flags four procedural non-compliances during the year: (1) financial statements of two wholly-owned subsidiaries (Vietnam and Sangreen Renewables) were not placed before the Audit Committee for the April–June 2024 quarter, (2) independent directors' declarations under Regulation 25(8) & (9) were received but not specifically recorded in board meeting minutes, (3) a Regulation 30 intimation for the 16 May 2024 board meeting was filed 10 minutes late due to a technical glitch, and (4) related party transactions with subsidiaries were approved but the minutes lacked the specific words 'approval' or 'prior approval' under Regulation 23. No penalties or fines were levied by SEBI or the stock exchanges. The Practising Company Secretary also noted that performance evaluation of the Board/Independent Directors/Committees was not documented, and systems for related party approvals, event disclosures, and website updates need strengthening.
These are largely procedural and documentation lapses with no financial penalty or SEBI/stock exchange action, so the direct impact on shareholders is minimal. However, repeated governance and disclosure weaknesses may raise minor corporate governance concerns for institutional investors tracking the stock.