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Shyamkamal Investments Ltd filed its Annual Secretarial Compliance Report for FY25, signed by Managing Director Jatinbhai Shah and reviewed by Practicing Company Secretary Gaurav Bachani & Associates. The report flags two instances of non-compliance with SEBI LODR Regulation 17(1), both related to the Board not having a woman director — attracting BSE SOP fines of Rs 1,29,800 (for Q2 ended Sept 2024) and Rs 1,18,000 (for Q1 ended June 2024). The company has applied to BSE for waiver of both fines. From the prior year (FY24), a Rs 36,580 fine paid for not having a qualified company secretary as compliance officer was also noted. Apart from these board composition issues, the company is compliant on secretarial standards, policies, website disclosures, related party transactions, insider trading and other key SEBI requirements.
Repeated governance lapses — particularly failure to appoint a woman director across multiple quarters — reflect weak board composition and may continue to attract exchange penalties and shake investor confidence. Waiver approval from BSE remains pending, so the fines are still a potential liability on shareholders.