Secretarial Compliance Report for year ended 31st March, 2024
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Shahi Shipping Limited submitted its annual Secretarial Compliance Report for FY24, certified by Practicing Company Secretary Jay Bhatt. The company was largely compliant with SEBI LODR Regulations, including secretarial standards, related party transactions, insider trading norms, and director disqualification checks. However, the company failed to upload several mandatory documents (financial results, policies, annual return, terms of appointment of independent directors) on its website, violating Regulation 46(2). BSE imposed multiple penalties totaling around ₹20.08 lakh for late submissions under Regulations 13(3), 31, 33 and 6(1) non-compliance, with all fines currently unpaid. No SEBI or stock exchange show cause notices or additional non-compliances were reported during the year.
The website disclosure gap and accumulated unpaid fines (roughly ₹20 lakh) point to weak compliance discipline, which could attract further exchange scrutiny or investor concern. For shareholders, the report signals no major governance red flags but flags areas where the company must improve timeliness and transparency.