Annual Secretarial Compliance Report for the year ended 31st December 2025
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Stovec Industries Ltd, a subsidiary of SPGPrints B.V. (Netherlands), has filed its Annual Secretarial Compliance Report for calendar year 2025 with BSE, as required under SEBI's Listing Regulations. The report, issued by practicing company secretary Sandip Sheth & Associates on February 23, 2026, confirms that the company complied with most SEBI regulations covering secretarial standards, insider trading, disclosures, and corporate governance. One non-compliance was flagged: a related party transaction (sale of products to a fellow subsidiary) exceeded the Audit Committee's omnibus approval limit of Rs. 1 crore in the last quarter by an additional amount exceeding Rs. 1 crore, without prior approval. This deviation was subsequently ratified by the Audit Committee at its meeting on February 23, 2026, and the company attributed the excess to unexpected demand. No fines, penalties, or enforcement actions were imposed by SEBI or stock exchanges during the review period.
This is largely a routine annual compliance filing with no material penalty or enforcement action against the company. The single flagged deviation — a related party transaction exceeding the pre-approved omnibus limit — was self-disclosed, explained as a business-driven overrun, and subsequently ratified by the Audit Committee, so it is unlikely to have a meaningful negative impact on the stock or shareholders.