Annual Secretarial compliance report for the year ended 31 March 2026
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Space Incubatrics Technologies Ltd has submitted its Annual Secretarial Compliance Report for FY 2025-26 as required under SEBI (LODR) Regulation 24A. The Practicing Company Secretary, M/s Bhupendra Kaushik & Associates, has identified multiple compliance violations including: (1) Structured Digital Database (SDD) not maintained as per SEBI Insider Trading Regulations, (2) Company website not updated as per Regulation 46 of SEBI (LODR), (3) Related Party Transaction disclosures not submitted to the Stock Exchange under Regulation 23(9), and (4) non-compliance in adoption/updating of SEBI-related policies. Additionally, the statutory auditor resigned during the year, and while a new auditor was appointed, the appointment was not properly ratified in the ECM as per Section 139 of the Companies Act 2013. Management responses were not provided for the flagged violations.
This is a negative development for shareholders as the company has multiple regulatory compliance failures including inadequate insider trading safeguards and undisclosed related party transactions. The unresolved auditor appointment issue adds to governance concerns and may invite regulatory action from SEBI or the Stock Exchange.