Inter State Oil Carrier Limited has submitted a formal disclosure to BSE Limited regarding its exemption from certain SEBI Listing Obligations and Disclosure Requirements (LODR) regulations.
The company specifically references Regulation 15(2) of SEBI (LODR) Regulations, 2015, which exempts listed entities from corporate governance provisions including Regulations 17, 17A, 18, 19, 20, 21, 22, 23, 24, 24A, 25, 26, 27 and certain clauses of regulation 46 and Schedule V, if they meet specific size criteria.
The exemption applies to companies with paid-up equity share capital not exceeding ₹10 crore and net worth not exceeding ₹25 crore as of the last day of the previous financial year.
As per the audited financial statements for the financial year ended March 31, 2026:
- Paid-up equity share capital: ₹4,99,23,000
- Net worth: ₹21,14,17,743.99
Both figures are below the prescribed thresholds under Regulation 15 of SEBI Listing Regulations, making the corporate governance provisions non-applicable to the company.
The company has provided an undertaking that if corporate governance provisions become applicable at a later date, they will ensure compliance within the prescribed timeline of six months from the date of applicability in accordance with SEBI (LODR) Regulations, 2015.