Key Event Details

  • The 35th Annual General Meeting was held on Tuesday, September 29, 2026, at 11:30 a.m. IST
  • Meeting conducted through Video Conferencing (VC)/Other Audio-Visual Means (OAVM)
  • Meeting commenced at 11:30 a.m. IST and concluded at 11:42 a.m. IST
  • 60 shareholders attended the meeting

Directors and Key Personnel Present

The following Directors attended through VC/OAVM:

  • Deepak Kishorchandra Vaidya - Whole-time Director and Chief Financial Officer
  • Sanjay Jayant Bhatt - Non-Executive Director
  • Jayprakashan Padmanabhan Nair - Non-Executive Director
  • Piyush Khatod - Non-Executive Independent Director
  • Rupesh Pachori - Non-Executive Independent Director

Other attendees:

  • Pringle A. Jhaveri, Representative of M/s. R M R & Co., Chartered Accountants (Statutory Auditor)
  • Shreyansh M Jain, Representative of M/s. M.D. Baid & Associates (Secretarial Auditor)
  • Mohan Baid, Partner, M/s. M.D. Baid & Associates (Scrutinizer)

Regulatory Compliance Issues Disclosed

Past Non-Compliance

1. Delayed Appointment of Company Secretary: The Company delayed the appointment of a qualified Company Secretary as Compliance Officer by 92 days, in violation of Regulation 6(1) of SEBI LODR Regulations, 2015

2. Fines Paid: The company paid fines of ₹1,08,560 each imposed by BSE Limited and NSE Limited (total ₹2,17,120)

3. Form MGT-14 Filing Omission: The Company failed to file Form MGT-14 in respect of board resolutions for granting loans to other body corporates, as required under Section 179(3)(f) read with Section 117 of the Companies Act, 2013

Company Response to Non-Compliance

The Company acknowledged these observations and committed to:

  • Strengthening internal systems and processes
  • Enhanced monitoring of statutory filing timelines
  • Regular internal checks
  • Assignment of accountability for all statutory and regulatory filings
  • Ensuring full compliance with all applicable laws and regulations

Voting and Meeting Procedures

  • E-voting facility was provided from September 26, 2026, at 9:00 a.m. to September 28, 2026, at 5:00 p.m.
  • Members present at the meeting who hadn't cast votes electronically were given 15 additional minutes to vote
  • Results to be declared within 48 hours and disseminated on stock exchange websites and company website
  • Scrutinizer: M/s. M.D. Baid & Associates

Resolutions Passed

Ordinary Business:

1. Adoption of audited standalone financial statements for the financial year ended March 31, 2026, together with reports of Board of Directors and Auditors

2. Re-appointment of Mr. Sanjay Jayant Bhatt (DIN: 09075125) who retires by rotation under section 152(6) of Companies Act, 2013

Both resolutions passed as Ordinary Resolutions.

Auditor Reports

  • Statutory Auditor's Report for FY26 standalone financial statements contains no qualifications, observations, or adverse comments
  • Secretarial Audit Report by M/s. M.D. Baid & Associates contained the compliance observations mentioned above

Delay in Submission Explanation

The proceedings were filed with a delay due to:

  • Company Secretary and Compliance Officer (Pratibha Bhutra) suffering from dengue
  • She was on medical leave during the AGM period
  • Unable to attend the AGM due to health condition
  • The delay was described as unintentional and beyond the company's control

Document Availability

  • AGM proceedings and transcripts hosted on company website: www.paraspetrofils.in
  • Statutory registers and documents available for electronic inspection upon request to finance@paraspetrofils.com

#Tags: #ParasPetrofils #AGM #SEBIDisclosure #RegulatoryCompliance #CorporateGovernance #Neutral