Reason for Delay
The delay occurred due to an inadvertent administrative oversight during the transition of responsibilities following the resignation of the erstwhile Company Secretary & Compliance Officer. During this transition period, management's immediate focus was on ensuring continuity of statutory and secretarial functions and completing internal formalities relating to the cessation and appointment.
Current Status
The company has since completed the requisite intimations with the stock exchange. The delay was purely unintentional and procedural in nature, with no intention to withhold material information from the stock exchange or investors.
Remedial Actions
The company has strengthened its internal compliance monitoring mechanism to ensure all future disclosures are made within prescribed timelines. Management assures the exchange that due care shall be exercised to ensure strict compliance with all applicable regulatory requirements in the future.