Submission of Annual Secretarial Compliance Report.
UGARSUGAR · price
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Ugar Sugar Works has filed its Annual Secretarial Compliance Report for the financial year ended March 31, 2025, as required under SEBI's Listing Regulations. The Practicing Company Secretary confirmed that the company generally complied with applicable SEBI regulations, secretarial standards, insider trading norms, and disclosure requirements. However, two key non-compliances were flagged: a one-day delay in filing Related Party Transaction (RPT) disclosures in XBRL for March 2024, for which BSE levied a fine of Rs. 5,900 (already paid), and a show-cause notice from BSE proposing a fine of Rs. 5,41,620 for alleged non-compliance with regulations on board composition, audit committee, stakeholder relationship committee, and risk management committee. The company has submitted its reply along with a waiver application and is awaiting the stock exchange's response.
This is a routine annual compliance filing and does not signal any major business change. However, the pending show-cause notice and proposed fine of Rs. 5.4 lakh are minor concerns; while immaterial financially, persistent non-compliance with board/committee composition rules could attract further regulatory scrutiny and needs monitoring.