Annual Secretarial Compliance Report as per Regulation 24A of Listing Regulations
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Seshaasai Technologies submitted its annual secretarial compliance report for the review period September 30, 2025 to March 31, 2026. The company listed on BSE and NSE on September 30, 2025. The compliance report identifies three deviations: (1) Audit committee lacked required 2/3 independent directors on listing date September 30, 2025, (2) same issue persisted until October 16, 2025 when committee was reconstituted, and (3) board meeting outcomes and financial results were submitted to exchanges after the prescribed 3-hour timeline due to technical issues. Total fines imposed by exchanges amount to Rs. 80,240. The company also issued 52,219 equity shares to employees under a stock benefit scheme at a discount. All other statutory compliances were found satisfactory.
The audit committee composition issue resulted in modest fines (Rs. 80,240 total) and has been rectified. The delayed disclosure submissions were not fined but flagged. These are first-year listing compliance issues that have been addressed, with minimal ongoing impact expected for shareholders.