Annual Secretarial Compliance Report of the Company for the year ended March 31, 2025
SUBEXLTD · price
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Subex Ltd has submitted its Annual Secretarial Compliance Report for FY25, reviewed by V. Sreedharan and Associates. The report confirms overall compliance with SEBI LODR Regulations, except for two minor lapses disclosed in Annexure 1. First, the Board had only 5 directors instead of the required 6 from September 7, 2023 to May 9, 2024 under Regulation 17(1), attracting fines of Rs 4,55,000 each from BSE and NSE. Second, there was a 2-day delay in appointing a new Compliance Officer under Regulation 6 after the previous one resigned, attracting additional fines of Rs 1,95,000 each from BSE and NSE. The company has since appointed a sixth Director (May 10, 2024) and a new Company Secretary, Mr. Ramu Akkili (February 12, 2025), and has paid all penalties. No actions were taken by SEBI against the company's promoters, directors, or subsidiaries during the year.
The total penalties of roughly Rs 13 lakh are negligible compared to the company's size and have already been paid. Both regulatory lapses have been remediated, so this is a routine compliance disclosure with no meaningful impact on shareholders or the stock price.