Key Events and Timeline

  • Previous Company Secretary and Compliance Officer Ms. Pratiksha Shah resigned effective 14 February 2026
  • Position remained vacant from 15 February 2026 to 15 June 2026 (4-month vacancy period)
  • Regulatory requirement: Vacancy to be filled within 3 months from occurrence (by 14 May 2026)
  • New appointment: CS Ashwini Raut appointed as Company Secretary and Compliance Officer on 16 June 2026
  • Appointment approved at Board Meeting held on 16 June 2026
  • Intimation filed with BSE (acknowledgment No. 13315801)

Recruitment Efforts and Challenges

The Company undertook extensive recruitment efforts over 6 months:

  • Profile Screening: Reviewed 164 candidate profiles from multiple sources
  • LinkedIn: 128 profiles screened, 6 shortlisted in HR round, 2 in technical round, 2 qualified CS candidates
  • Naukri: 12 profiles screened, 1 shortlisted in HR round, 1 in technical round, 1 backed out during negotiation
  • Indeed: 13 profiles screened, 2 shortlisted in HR round, 2 in technical round, 1 backed out during negotiation, 1 backed out during joining
  • Reference: 8 profiles screened, 2 shortlisted in HR round, 2 in technical round, 2 backed out during negotiation
  • CS Institute: 1 profile screened, 1 shortlisted in HR round, 1 in technical round, 1 backed out during negotiation
  • Company Website: 2 profiles screened
  • Recruitment Channels Used: LinkedIn, Indeed, Naukri, company website, CS Institute references, professional references
  • Key Challenges:
  • Significant number of applications did not meet requisite qualifications, experience, or expectations
  • Candidates with completed CS degrees but no experience had high salary expectations
  • Candidates lacked competencies in communication skills, writing, and drafting skills
  • Multiple candidates accepted offers but backed out on scheduled joining date (occurred twice in April and May 2026)
  • Candidates withdrew during offer stage due to counteroffers or other opportunities

Regulatory Compliance Status

  • Delay in appointment: 32 days beyond regulatory deadline (appointed 16 June vs deadline 14 May 2026)
  • Company states delay was "purely inadvertent and not intentional"
  • Board of Directors and Nomination and Remuneration Committee treated matter with utmost priority
  • Company maintains complete records of communication with candidates and offer letters
  • Company states commitment to ensuring compliance with SEBI (LODR) Regulations, 2015 and Companies Act, 2013

Financial and Operational Impact

No financial impact quantified in the disclosure. The disclosure primarily addresses regulatory compliance and governance matters.

#Tags: #SinnarBidiUdyog #SEBIRegulation6 #SEBIDisclosure #RegulatoryCompliance #ManagementChange #Neutral