Annual Secretarial Compliance Report for the year ended 31st March 2025 is attached
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Velan Hotels has filed its Annual Secretarial Compliance Report for FY 2024-25, confirming compliance with SEBI LODR regulations, secretarial standards, insider trading norms, and disclosure requirements during the review period. The report notes a past Minimum Public Shareholding (MPS) non-compliance that led to BSE fines of Rs 10.85 lakh (Dec 2023 quarter) and Rs 10.15 lakh (March 2024 quarter); both waiver applications were rejected and the full fine was paid on 22 November 2024. The company has complied with MPS norms since March 2024 and has applied for revocation of the ISIN-level freeze on promoter/director securities. Importantly, the company's commercial operations have remained halted since March 2020, and the only related-party activity during the year was unsecured loans from directors.
This is a routine compliance filing with no new positive catalysts, but it confirms two things shareholders should note: the company is still non-operational after over five years, and a lingering regulatory issue (MPS non-compliance) has now been financially settled. No fresh action was taken by SEBI or BSE during FY25.