Annual secretarial Compliance Report for the Year ended 31st March 2025
TARAPUR · price
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Tarapur Transformers Ltd submitted its Annual Secretarial Compliance Report for FY2025, which flagged several regulatory non-compliances by the Practicing Company Secretary. The company did not maintain a functional website under Regulation 47 of SEBI (LODR) 2015 and failed to comply with Insider Trading Regulations (3(5) & 3(6)) due to non-implementation of the Structured Digital Database (SDD) software. The Board was not duly constituted (no woman director under Regulation 17(1)) and no whole-time Company Secretary was appointed (Regulation 6(1)), attracting fines of Rs. 3,18,600 each from BSE and NSE for board composition and Rs. 1,05,020 each for the Company Secretary shortfall. Additionally, SEBI issued summons to the company and its directors under Section 11C(3)/11C(5) of the SEBI Act, 1992 to produce documents before the Investigating Authority. The annual disclosure under Regulation 31(4) of SEBI (SAST) Regulations, 2011 was also not made, though the company had since regularised some of the LODR non-compliances.
Multiple SEBI non-compliances, cumulative exchange fines, and an active SEBI investigation signal serious governance and compliance weaknesses that are negative for shareholders and could weigh on the stock. Investors should watch for further regulatory action or clarity on the SEBI summons.