Annual Secretarial Compliance Report for the Financial year ended March 2025.
UGROCAP · price
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Ugro Capital has submitted its Annual Secretarial Compliance Report for FY25, confirming overall compliance with SEBI (LODR) Regulations and other applicable SEBI rules. The report, certified by Pankaj Nigam & Associates (Practicing Company Secretaries), flagged two instances where stock exchanges (BSE and NSE) imposed fines. First, a fine of Rs 99,120 each (about Rs 1.98 lakh including GST) was levied for the continuation of Non-Executive Chairman Mr. Satyananda Mishra after he turned 75, though the company had obtained shareholder approval via special resolution. Second, fines of Rs 23,600 each (~Rs 47,200 including GST) were imposed for delayed intimation of record dates for NCD interest payments, caused by ISINs not being available on exchange portals. The company paid both fines under protest to remain eligible for its NCD public issue, while contesting the interpretation. All other compliance areas — secretarial standards, policies, website disclosures, insider trading, related-party transactions, and performance evaluation — were found compliant. No material subsidiary exists, and no additional non-compliances were observed.
For shareholders, the report is largely routine and shows good governance practices, with no major ongoing non-compliances. The two fines were paid under protest and are relatively small (under Rs 3 lakh combined), but the ongoing legal contest with the exchanges and any future SEBI/SAT rulings could be minor overhangs. No direct impact on stock price is expected from this filing.