Annual Secretarial Compliance Report for the Financial Year ended March 31, 2025
VASCONEQ · price
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Vascon Engineers has submitted its Annual Secretarial Compliance Report for FY25, audited by M/s Amit Jaste & Associates, Practicing Company Secretaries. The secretarial auditor has confirmed that the company generally complied with SEBI regulations, listing rules, and applicable secretarial standards during the review period. One minor deviation was noted: audited financial results for the year ended March 31, 2024 (approved by the Board on May 21, 2024) were published in newspapers on May 24, 2024, a 3-day delay under SEBI LODR Regulation 47, attributed to administrative difficulties, with no fine imposed. BSE levied a penalty of Rs. 1,40,000 on the company via email dated March 17, 2025, for alleged non-compliance with the constitution of the Nomination and Remuneration Committee under Regulation 19(1)/19(2) of SEBI LODR; the company has filed an application for disposal, contending it was compliant. Two prior-year observations, regarding subsidiary minutes under Regulation 24(3) and event capture under PIT Regulation 3(5), were noted as already remediated.
This is a routine annual compliance filing, and the overall compliance status is satisfactory with no material adverse findings. However, shareholders should note the pending Rs. 1.4 lakh BSE penalty related to nomination committee composition, which could have minor governance implications depending on the outcome. No material impact on stock price is expected from this filing.