Submission of Annual Secretarial Compliance Report
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Welcure Drugs & Pharmaceuticals has filed its Annual Secretarial Compliance Report for FY2025 with BSE, as required under SEBI's listing regulations. The report flags three minor compliance lapses: (1) a 9.31-minute delay in submitting postal ballot voting results from February 2025, attracting a fine of Rs. 11,800 plus GST; (2) and (3) non-constitution of the Audit Committee and Nomination & Remuneration Committee during Q4 FY2024, each attracting a penalty of Rs. 2,14,760 (total ~Rs. 4.3 lakh plus GST). All fines have been paid, and waiver applications are pending with the exchange. The report also notes that the company's previous statutory auditor resigned on 28 March 2024, with M/s Gupta Rustagi & Co. subsequently issuing the FY2024 audit report. On most other fronts — insider trading, related party transactions, website disclosures, secretarial standards, and board processes — the company is reported as compliant.
These are routine regulatory lapses with relatively small financial penalties (under Rs. 5 lakh in total), so the direct impact on shareholders is minimal. However, the repeated failures around committee constitution may be a minor governance concern for investors who track corporate governance quality closely.