Intimation on Annual Secretarial Compliance Report for the financial year ended March 31, 2025.
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Tulsyan NEC Limited has submitted its Annual Secretarial Compliance Report for the financial year ended March 31, 2025, as required under SEBI's listing rules. The report, prepared by M Damodaran & Associates LLP, confirms the company has complied with most SEBI regulations including secretarial standards, related party transactions, insider trading norms, and website disclosures. However, one non-compliance was flagged: the company delayed disclosing a default on interest/principal payment of unlisted Non-Convertible Debentures — the default occurred on December 31, 2024, but the disclosure to BSE was made on January 8, 2025, missing the 24-hour deadline by about 8 days. The company later obtained approval from NCD holders to reschedule payments. No actions were taken by SEBI or stock exchanges against the company during the year.
For shareholders, this is largely a routine compliance filing. The delayed disclosure on the NCD default is a minor regulatory lapse with no fine imposed for the current period, though it raises a small flag on the company's timely reporting. Past-year issues involving delayed financial result submissions and equity share listing approvals have since been resolved with penalties already paid.