Secretarial Compliance Report for the year ended March 31, 2025 under Regulation 24A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
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Systematix Corporate Services Limited has submitted its Annual Secretarial Compliance Report for the financial year ended March 31, 2025, certified by Kothari H. & Associates, Practicing Company Secretaries. The company, a SEBI-registered Category I Merchant Banker (Scrip Code: 526506), has complied with most SEBI regulations and listing obligations. However, the report discloses an Adjudication Order passed by SEBI on July 2, 2024 under Section 15-I of the SEBI Act, 1992, imposing a penalty of Rs. 7 lakhs on the company. The penalty was for not exercising due care and diligence as a Merchant Banker in an IPO, failure to maintain a separate SDD (Structured Digital Database) for merchant banking activities, and failure to make 50 timely status updates on the SI portal. The company has since paid the penalty and implemented remedial measures including revised due-diligence processes, new SDD software, and updated portal filings.
For shareholders, this is a routine annual compliance filing. The Rs. 7 lakh SEBI penalty has already been paid and remediated, so it is a closed matter with no ongoing material risk. The overall report shows good governance compliance, with no additional non-compliances flagged.