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Awaiting price reaction for this filing.
Universal Starch Chem Allied Ltd submitted its Annual Secretarial Compliance Report for the year ended 31 March 2025, issued by Leena Agrawal & Co. The Practising Company Secretary found the company largely compliant with SEBI regulations, but flagged three deviations: (1) promoter shareholding is not fully held in dematerialised form as required under Regulation 31(2), which is a carry-over issue from the previous year; (2) non-compliance with Regulation 17(1A) regarding the continuation of a non-executive director above 75 years of age, for which BSE levied a fine of Rs. 38,000, with the company's waiver application currently under process; and (3) an 8-day delay in intimating the stock exchange about the resignation of the Managing Director under Regulation 30, though no fine was imposed. The company cited non-availability of the Company Secretary for the delay and stated that the relevant special resolution for the director's appointment was passed back in September 2019.
These are routine compliance lapses with minimal financial penalty (Rs. 38,000 fine under waiver review) and no material impact expected on shareholders or the stock price, though the repeated non-dematerialisation of promoter holdings is a small governance flag to watch.