Please find attached annual secretarial complaince for the year ended 31st March. 2025
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Toyam Sports Ltd (formerly Toyam Industries Ltd) filed its Annual Secretarial Compliance Report for FY 2024-25 with BSE and MSEI, prepared by Practising Company Secretary Nitesh Chaudhary & Associates. The report highlights several compliance lapses: financial results were delayed by 12-24 days across four quarters, attracting SOP fines of Rs. 70,800 to Rs. 1,41,600 per quarter from both BSE and MSEI. The company also failed to comply with Regulation 17(1) on board composition (independent director requirement) for three consecutive quarters (Q1, Q2, Q3 FY25), attracting unpaid penalties totalling about Rs. 11.56 lakh. Additionally, the company received show cause notices and summons from SEBI seeking documents related to a past preferential issue and ESOP allotments; the company submitted responses and its directors/KMP attended the investigation, but no SEBI order had been issued by year-end. During the year, the company allotted 1.25 crore equity shares to its Managing Director under the ESOP Scheme 2020 and approved a preferential issue of 31.25 lakh shares to Applytiz Tech Private Limited (in-principle approval from exchanges still pending).
Repeated compliance failures, unpaid board composition penalties, and an ongoing SEBI investigation are governance red flags that could weigh on investor confidence and the stock price. Shareholders should watch for any final SEBI order from the ongoing investigation and the status of the pending preferential allotment.