Annual Secretarial Compliance Report_2024-2025
TECHNOE · price
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Awaiting price reaction for this filing.
Techno Electric & Engineering Company has submitted its Annual Secretarial Compliance Report for the year ended March 31, 2025, as mandated by SEBI's Listing Regulations. The report, certified by Practicing Company Secretary Babu Lal Patni, flagged two minor compliance issues: (1) a delay in filing a related party transaction disclosure under Regulation 23(9), resulting in a fine of Rs. 5,000 plus GST from NSE, which has been paid; and (2) the appointment of a non-executive director aged above 75 years without prior shareholders' approval under Regulation 17(1)(A), leading to a fine of Rs. 88,000 plus GST from each stock exchange, for which the company has applied for waivers on April 3, 2025. The company contends that shareholder approval was obtained through a special resolution within the required timeframe. Otherwise, the company is broadly compliant with SEBI's listing, insider trading, and disclosure norms.
The penalties are small relative to the company's size and have either been paid or are under waiver review, so this filing is unlikely to move the stock. Governance-focused investors may, however, note the director appointment-related fine as a watch item.