Submission of Annual Secretarial Compliance Report for the Financial Year 2024-2025 ended on 31st March 2025
Awaiting price reaction for this filing.
Alka India Limited (Scrip Code: 530889) has filed its Annual Secretarial Compliance Report for FY 2024-25 with BSE, as required under SEBI LODR Regulation 24A. The report, issued by J V Wadhwani & Associates, flags several non-compliances, largely because the company was under the Corporate Insolvency Resolution Process (CIRP) and its board was suspended. The current board was only appointed on 18 February 2025 after NCLT approved the Resolution Plan. Key lapses include non-submission of quarterly shareholding patterns, delayed/pending financial results, missing annual capital audit reconciliation report, and non-compliance with Insider Trading, Takeover, and Depository Participant regulations. The company also did not maintain a functional website, the mandatory Structured Digital Database (SSD) for UPSI, or obtain prior audit committee approval for related party transactions.
For retail investors, this filing reveals a history of weak governance and multiple SEBI compliance failures at Alka India during the year, tied to its insolvency resolution. While a new board is now in place post-Resolution Plan approval, ongoing lapses in filings, website, and insider-trading controls are red flags that could attract further regulatory scrutiny and weigh on investor confidence.