ANNUAL SECRETARIAL COMPLIANCE REPORT FOR THE YEAR ENDED MARCH 31, 2025.
URJA · price
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Urja Global Limited submitted its Annual Secretarial Compliance Report (ASCR) for the financial year ended March 31, 2025, prepared by K.O. Siddiqui of M/s Siddiqui & Associates, Practicing Company Secretary, as required under SEBI LODR Regulation 24A. The report flags a SEBI adjudication order under Section 15HB of the SEBI Act, 1992 for an alleged violation of Regulation 4(1) of SEBI LODR Regulations, related to potential misrepresentation and inadequate/misleading information disclosure. A penalty of Rs. 40,00,000 (Rs. 40 lakhs) was levied. The company has filed an appeal with the Securities Appellate Tribunal (SAT), Mumbai. Two prior-year non-compliances — delay in filing the Annual Report under Regulation 34(1) and non-disclosure of the Dividend Distribution Policy under Regulation 43A — were resolved, with clarifications filed and fines paid. The company is otherwise compliant with Secretarial Standards, insider trading norms, related party transaction approvals, website disclosures, director eligibility, document preservation, and material event disclosures.
Shareholders should note the Rs. 40 lakh SEBI penalty and ongoing SAT appeal, which represent a material regulatory overhang. Apart from this, the company is in good standing on most compliance parameters. Resolution of the appeal and any further regulatory action could influence sentiment, though the penalty size is modest relative to the company's operations.