Please find enclosed herewith Annual Secretarial Compliance Report for the Financial Year 2024-25.
WEBELSOLAR · price
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Websol Energy System Limited has submitted its Annual Secretarial Compliance Report for the financial year ended 31st March 2025, as required under SEBI LODR Regulation 24A. The report, issued by Practicing Company Secretary Mr. Abhijit Majumdar, confirms overall compliance with SEBI regulations, secretarial standards, insider trading rules, and corporate governance requirements. However, the company faced fines for two instances of late filing: Rs. 35,000 (BSE) and Rs. 30,000 (NSE) for delayed Related Party Transactions disclosure under Regulation 23(9), and Rs. 10,000 each from BSE and NSE for late submission of the previous year's Secretarial Compliance Report under Regulation 24A, totalling Rs. 85,000 in penalties. All fines have been paid and the required documents have since been filed. Additionally, Independent Director Mr. Kushal Agarwal resigned suddenly, temporarily reducing independent directors to 3 out of 7 total directors, and the company is in the process of appointing a replacement within SEBI's stipulated timeline.
This is largely a routine compliance filing with no major governance red flags. Minor past penalties for delayed submissions have already been settled, and the independent director vacancy is being addressed. Limited direct impact on shareholders or stock price is expected.