Submitting Secretarial Compliance Audit Report for March 31 2025
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Sejal Glass Ltd has submitted its Annual Secretarial Compliance Report for FY 2024-25, as required under SEBI Regulation 24A. The Practicing Company Secretary confirmed overall compliance with SEBI regulations, secretarial standards, insider trading norms, and disclosure requirements. A fine of Rs.2,000 + GST was imposed by BSE and NSE during the year for not meeting the 2/3 independent director criteria on the Audit Committee after Mr. Vijay Mamania's redesignation from Independent to Non-Independent Director; the fine has been paid. The Board had earlier approved shareholder consent for issuing equity shares and warrants on a preferential basis via postal ballot but withdrew the proposal on March 12, 2025. Previous non-compliances flagged include a delayed Related Party Transaction filing (Rs.15,000 fine, paid) and Minimum Public Shareholding shortfall (Rs.1,88,800 fine per exchange, waiver granted and refund received in December 2024). No additional non-compliances were observed by the auditor.
The report shows no major ongoing compliance issues, with prior fines either paid or refunded. Minor board composition lapse was resolved with a small penalty, suggesting limited governance risk for shareholders.