Pl. find Annual Secretarial Compliance Report
SWANCORP · price
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Swan Energy Limited submitted its Annual Secretarial Compliance Report for FY25, prepared by Practicing Company Secretary Jignesh M. Pandya, confirming overall compliance with SEBI LODR Regulations. However, the report flagged a board composition issue under Regulation 17(1)(a): Executive Directors exceeded 50% of the Board, which is not permitted. BSE and NSE levied fines totalling roughly Rs. 9.54 lakhs — Rs. 10,800 each exchange for the September 2024 quarter and Rs. 4,66,100 each exchange for the December 2024 quarter. The company has paid all fines and appointed an Independent Director w.e.f. December 19, 2024 to restore the required balance. All other compliance parameters — secretarial standards, insider trading, related party transactions, disclosures, and subsidiary governance — were marked compliant.
This is a routine annual compliance filing with a previously disclosed and already-remediated governance lapse. The board composition issue and fines are minor, have been paid, and corrective action (Independent Director appointment) has been completed, so the impact on shareholders or stock price is expected to be negligible.