Shivchem Agro Limited has submitted a formal declaration to BSE Limited regarding the non-applicability of the Annual Secretarial Compliance Report requirement under Regulation 24A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (SEBI LODR Regulations).
The exemption is claimed under Regulation 15(2)(b) of the SEBI LODR Regulations, which specifies that the requirement of compliance with Regulation 24A shall not apply to:
- Listed entities having paid up equity share capital not exceeding ₹10 crore and net worth not exceeding ₹25 crore as on the last day of the previous financial year
- Listed entities which have listed their specified securities on the SME Exchange
The company specifically states that it is listed on the SME Exchange, making Regulation 24A inapplicable. Additionally, the company notes that Regulation 23(9) is also not applicable due to its SME Exchange listing status.
The declaration confirms that while exempt from Regulation 24A requirements, the company will continue to comply with all other required listing compliances under the SEBI LODR Regulations.