Non Applicability of Annual secretarial compliance Report
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Awaiting price reaction for this filing.
Western Ministil Limited has informed BSE that the Annual Secretarial Compliance Report under SEBI's Regulation 24A is not applicable to the company. The exemption applies because, as stated in the filing, the company's paid-up equity share capital is Rs 2.16 crore (below the Rs 10 crore threshold) and its net worth is negative at Rs (4.83 crore) as of March 31, 2023. Under Regulation 15(2) of SEBI LODR Regulations 2015, companies meeting both these criteria are exempt from certain corporate governance requirements, including this report. The letter was signed by Mr. Ankit Shah, Company Secretary & Compliance Officer, on May 30, 2025.
This is a routine compliance disclosure rather than an event-driven announcement, so direct stock price impact is limited. However, the disclosed negative net worth of Rs 4.83 crore is a meaningful red flag for shareholders, indicating that accumulated losses have eroded shareholders' funds.