With reference to the above subject, we wish to inform you that the requirements regarding Annual Secretarial Compliance Report under Regulation 24A of SEBI (Listing Obligations and Disclosure ....
Awaiting price reaction for this filing.
Sriven Multi-Tech Ltd has informed the BSE that it is not required to file the Annual Secretarial Compliance Report for the financial year ended 31 March 2025. The company is claiming exemption under Regulation 15(2) of SEBI's Listing Obligations and Disclosure Requirements (LODR) Regulations, 2015, which exempts listed companies with paid-up equity capital not exceeding Rs. 10 crore and net worth not exceeding Rs. 25 crore. The company's paid-up equity share capital stands at Rs. 9,94,48,000 (about Rs. 9.94 crore), keeping it just under the threshold. However, the company has disclosed that its net worth is not positive as on 31 December 2024, meaning its liabilities exceed its assets. The company has committed to comply with the regulation within 6 months of the date it becomes applicable.
While the exemption itself is a routine regulatory filing, the disclosure of negative net worth is a significant red flag for shareholders, indicating weak financial health. Investors should be cautious as the company is technically insolvent on a net worth basis and may face challenges going forward.