Pursuant to Regulation 15(2)(a) of SEBI (LODR) Regulations, 2015, the compliance with provisions of Regulation 24A with related to Secretarial Audit shall not apply in respect of listed ....
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Awaiting price reaction for this filing.
Subhash Silk Mills has informed BSE that the Secretarial Audit disclosure requirement under Regulation 24A of SEBI's Listing Obligations and Disclosure Requirements (LODR) does not apply to it for the financial year ended March 31, 2025. Under Regulation 15(2)(a), the rule is exempt for companies whose paid-up equity share capital does not exceed Rs. 10 crore and whose net worth does not exceed Rs. 25 crore. Based on the latest audited financials (as on March 31, 2024), the company's paid-up share capital is Rs. 4,04,93,808 (about Rs. 4.05 crore) and net worth is Rs. 10,50,13,069 (about Rs. 10.50 crore), both below the limits. The company therefore qualifies for the exemption and is not required to comply with the Secretarial Audit disclosure for FY25.
This is a routine regulatory filing with no material impact on shareholders or the stock price. It merely confirms that the company continues to fall in the 'small company' category under SEBI norms and is therefore not required to undertake a Secretarial Audit for the current financial year.