Annual Secretarial Compliance Report duly issued by Practicing Company Secretary pursuant to Regulation 24(A) of the SEBI (LODR) Regulations, 2015 for the financial year ended on March 31, 2025
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SPEL Semiconductor has submitted its Annual Secretarial Compliance Report for FY25 as required under SEBI LODR Regulation 24(A). The Practicing Company Secretary confirmed overall compliance with SEBI regulations, secretarial standards, and listing obligations. One new non-compliance was noted: the company failed to give prior intimation to BSE about a board meeting held on May 29, 2024, leading to a fine of Rs. 11,800. The company cites unexpected administrative reasons for this lapse. The report also flagged that promoters' demat accounts have been frozen due to non-payment of past BSE fines, and the wholly-owned subsidiary SPEL Semiconductor Packaging Ltd has had its investment fully impaired and is set to be struck off.
This is a routine annual compliance filing, but the disclosures highlight ongoing financial stress on the company — frozen promoter demat accounts from unpaid fines, an impaired subsidiary, and inability to pay regulatory penalties. Retail investors should be cautious given these signs of financial distress, even though the report itself shows overall regulatory compliance.