please find enclosed herewith Annual Secretarial Compliance Report of the Company for the quarter and year ended March 31, 2025 issued by M/s. Mayank Arora & Co.
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Yunik Managing Advisors (formerly Essar Securities, BSE Scrip: 533149) has submitted its Annual Secretarial Compliance Report for FY ended March 31, 2025, certified by M/s. Mayank Arora & Co. The report flags several corporate governance lapses: no Executive Director on the Board, no CEO or CFO appointed during the year, and a delay in appointing a qualified Company Secretary/Compliance Officer (now filled by Mr. Sagar Shah effective May 2, 2025). The promoter has not disclosed encumbered share details, citing being under Resolution Professional. The company also failed to file certain XBRL submissions related to audit qualifications and the appointment of the earlier Company Secretary, Mr. Brijgopal Kankani. No SEBI or stock exchange penalties were levied during the review period, and the company has committed to rectifying these issues going forward.
Multiple governance gaps and the absence of key managerial personnel (CEO, CFO, Executive Director) raise red flags about the company's operational strength and may concern shareholders. The promoter being under Resolution Professional adds further uncertainty, though the absence of penalties and recent appointments show the company is taking corrective steps.