Annual Secretarial Compliance Report for the Financial Year ended March 31, 2025
VIPULLTD · price
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Vipul Limited submitted its Annual Secretarial Compliance Report (ASCR) for FY2024-25, prepared by Practicing Company Secretary M/s. AVA Associates. The report flags several past non-compliances that drew penalties from BSE and NSE, all of which the company has already paid. Key lapses include: absence of a woman director on the Board from July 31, 2024 after Mrs. Ameeta Verma DuWal's exit (fine of Rs. 2.30 lakh each from BSE and NSE); shortage of one Independent Director on the Audit and Stakeholders Relationship Committees from September 23, 2024 after Mr. Kapil Dutta's second term ended (Rs. 28,320 each from the exchanges); one-day delay in submitting the FY24 Annual Report to stock exchanges (Rs. 4,720); and a 7-day delay in filing FY23 audited results, which were filed on June 6, 2023 instead of May 30, 2023 (Rs. 53,100 from BSE and Rs. 1.23 lakh from NSE). The report also notes the company website is not secure, using 'http' instead of 'https'. Vipul has 12 subsidiaries (4 step-down) with no material subsidiary and no auditor resignations during the year.
Multiple SEBI fines point to recurring governance lapses around Board and Committee composition, which may dent investor confidence despite the small absolute penalty amounts. Shareholders should watch for timely appointment of a woman director and the missing Independent Director to avoid further action and any reputational overhang.