Submission of Regulation 23(9) - Non Applicability certificate
Awaiting price reaction for this filing.
Popees Cares Limited (Scrip Code: 530565) has informed BSE that Regulation 23(9) of SEBI LODR Regulations, which requires disclosure of related party transactions on a consolidated basis, is not applicable to the company for the half year ended March 31, 2025. The company qualifies for exemption under Regulation 15(2) because its paid-up equity share capital of Rs. 6.04 crore is below the Rs. 10 crore threshold and its net worth is negative at Rs. -6.69 crore, well below the Rs. 25 crore threshold. Since both criteria are met, the corporate governance disclosure requirements under Regulation 23(9) do not apply. The company has undertaken to comply within six months if the regulation becomes applicable to it in the future.
This is a routine compliance filing with no direct impact on share price or shareholder value. However, the negative net worth of Rs. 6.69 crore signals financial weakness that investors should note.