Annual Secretarial Compliance Report for the year ended 31st March, 2025 is attached.
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Star Paper Mills has filed its Annual Secretarial Compliance Report for FY2024-25, as required under SEBI LODR Regulation 24A. The report, certified by Poornima Yadav (Practicing Company Secretary), confirms that the company largely complied with SEBI regulations, secretarial standards, and disclosure norms during the year. However, several non-compliance issues were flagged, including delays in re-constituting the Audit Committee, Nomination & Remuneration Committee, and Stakeholders Relationship Committee, plus a one-day delay in filing the shareholding pattern for Q3 FY25. Stock exchanges (NSE and BSE) imposed fines totalling roughly ₹3.44 lakh plus GST across these violations, but all fines were later waived after the company submitted waiver applications citing genuine reasons. The report also mentions a prior-period compliance issue from FY23-24 regarding the Board falling below the mandatory six-director threshold (Reg. 17(1)(c)), which was rectified by appointing Dr. Sheela Bhide as a director and depositing the ₹4.80 lakh fine plus GST.
Despite multiple committee reconstitution delays and a minor filing delay attracting fines, all penalties have been waived by the exchanges, so there is no direct financial or material impact on shareholders. The issues point to some weakness in corporate governance timelines but were resolved without ongoing consequences.