Diamond Power Infrastructure Limited Regulatory Compliance Response
Date of Communication: July 7, 2025
Nature of Query: The National Stock Exchange of India Limited raised a query regarding the company's financial results submission, specifically noting that the Statement on Impact of audit qualifications was missing the CEO signature as required by prescribed SEBI format.
Company's Clarification:
The company explained that the absence of a CEO signature was due to a vacancy in the required leadership positions. Mr. Vinod Jain, who was appointed as the Company's Whole-time Director on October 19, 2024, resigned effective May 27, 2025. The position became vacant on May 30, 2025, leaving no individual in the roles of CEO, Managing Director, or Whole-time Director who could sign the Statement on Impact of Audit Qualifications for the financial year ended March 31, 2025.
Regulatory Compliance Reference:
The response specifically references:
- SEBI Circular No. CIR/CFD/CMD/56/2016 dated May 27, 2016, which requires signatures from CEO/Managing Director, CFO, Audit Committee Chairman, and Statutory Auditor on the Statement on Audit Qualification
- Section 203 of the Companies Act, 2013, which mandates the appointment of a Managing Director, Chief Executive Officer, or Manager, or in their absence, a Whole-time Director
- Regulation 26A(1) of SEBI Listing Regulations, 2015, which stipulates that any vacancy in the office of Chief Executive Officer, Managing Director, Whole-time Director, or Manager must be filled within three months from the date of vacancy
Compliance Commitment:
The company confirmed it is actively searching for a suitable candidate for the Chief Executive Officer, Managing Director, or Whole-time Director position and undertakes to fill this vacancy within the stipulated three-month timeframe to ensure compliance with regulatory provisions.
Topic Tags: Regulatory Response, Compliance Disclosure, Management Change, Financial Results, SEBI Regulations