This is to inform you that Annual Secretarial Compliance Report under Regulation 24A of SEBI(LODR)Amendment Regulation, 2018 read with BSE Circular dated 09th May, 2019 is not applicable ....
Awaiting price reaction for this filing.
Foundry Fuel Products Ltd has informed BSE that the Annual Secretarial Compliance Report under Regulation 24A of SEBI (LODR) Amendment Regulations, 2018 is not applicable to the company. The company is claiming exemption under Regulation 15(2) of SEBI (LODR) Regulations, 2015. This exemption applies because the company's paid-up equity share capital does not exceed Rs. 10 Crores and its net worth does not exceed Rs. 25 Crores, as on the last day of the previous financial year. As a result, the corporate governance provisions under SEBI LODR are not applicable to this company.
This is a routine compliance clarification with no direct impact on shareholders or stock price. However, it indirectly confirms that Foundry Fuel Products is a very small-cap company with paid-up capital below Rs. 10 Crores and net worth below Rs. 25 Crores, meaning it operates under lighter regulatory obligations than larger listed firms.