Annual Secretarial Compliance Report of the Company under Regulation 24A of SEBI (LODR) Regulation, 2015 for the period ended March 31, 2025
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Vertex Securities Ltd submitted its Annual Secretarial Compliance Report for the financial year ended March 31, 2025, reviewed by Yogesh Sharma & Co., Practicing Company Secretaries. The company is largely compliant with SEBI regulations, secretarial standards, and corporate governance norms, with no SEBI or stock exchange actions against it during the year. However, certain material events were not disclosed to stock exchanges under Regulation 30, including the re-appointment of Executive Director/CFO on 13/08/2024, re-appointment of MD & CEO on 21/05/2024, cessation of two Independent Directors on 19/09/2024, and change in auditors on 27/09/2024. Management attributed these omissions to inadvertence, assuming re-appointments and term-expiry cessations did not require disclosure, and committed to stricter compliance going forward. Additionally, prior-year observations regarding a material related party transaction (later ratified via postal ballot on 18/05/2024) and undisclosed sale of 15 lakh equity shares of a subsidiary were noted.
The non-disclosure of material events, though now flagged and corrected, may raise minor corporate governance concerns among investors. Since no penalties or SEBI actions were imposed, the immediate impact on shareholders or stock price is likely limited, but investors should watch for improved disclosure practices in future filings.