Annual Secretarial Compliance Report for the FY ended March 31, 2025
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Shah Metacorp Ltd (formerly Gyscoal Alloys Limited) filed its Annual Secretarial Compliance Report for FY2024-25, confirming overall compliance with SEBI regulations, with a few exceptions noted. The company received a SEBI Adjudication Order on April 2, 2025, imposing a Rs. 2,00,000 penalty for violations including delayed disclosures about a promoter's arrest and insolvency proceedings. Two NSE advisory letters were also issued—one for a 10-month delay in locking in unlisted warrants (allotted July 28, 2023 but locked in only May 7, 2024), and another for delayed disclosure of a promoter re-classification application. The report, issued by M/s. K Jatin & Co., covers compliance with Secretarial Standards, insider trading norms, related party transactions, and disclosure requirements. The company has an unlisted non-material subsidiary and did not operate any employee benefit schemes during the year.
For shareholders, the report shows the company is broadly compliant but carries a Rs. 2 lakh SEBI penalty and two NSE advisories for past disclosure delays, which may raise mild corporate governance concerns but is unlikely to materially affect the stock price.