Pursuant to Regulation 24A of SEBI (LODR) Regulations, 2015, please find enclosed herewith Annual Secretarial Compliance Report of the Company issued by Deepak Bansal and Associates, Associate ....
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U.P. Hotels Limited has filed its Annual Secretarial Compliance Report for FY 2024-25, which highlights multiple ongoing non-compliances. The company has not maintained the Minimum Public Shareholding (MPS) required under SEBI rules, and BSE has levied total fines of about Rs.42 lakh across four quarters in FY 2024-25, plus over Rs.31 lakh in earlier fines for FY 2023-24. About 2.66% of promoter shares (127,267 shares) are still pending dematerialization because SEBI and BSE have frozen promoter demat accounts. The company is in the process of seeking voluntary delisting from BSE — a previous delisting attempt in 2019 had failed — and SEBI has granted specific relaxations for MPS non-compliance for this purpose. Related party transactions linked to an ongoing NCLT case remain unapproved as the Board has deferred decisions pending the tribunal's ruling.
Shareholders should note persistent regulatory non-compliance, repeated fines, and the company's move toward voluntary delisting from BSE, which could affect trading liquidity and shareholder value. If the delisting goes through, small shareholders may need to assess their exit options carefully.