Panafic Industrials Ltd - Non-Applicability Of Regulation 23(9) Of The SEBI (LODR) Regulations, 2015 For The Financial Year Ended March, 2019

We would like to inform you that pursuant to Regulation 15(2) of SEBI (LODR) Regulations, 2015, the compliance with the corporate governance provisions as specified in Regulation 17,17A,18,19,20,21,22,23,24,24A,25,26,27 and clauses (b) to (i) of sub-regulation (2) of Regulation 46 and para C, D and E of Schedule V, shall not apply, in respect of:

a) The listed entity having paid up equity share capital not exceeding Rupees Ten Crore and net worth not exceeding Rupees Twenty Five Crore, as on the last day of the previous financial year;

b) The listed entity which has listed its specified securities on the SME Exchange.

We fall into category a) as the paid up capital and net worth of the Company is not exceeding Rupees Ten Crore and Rupees Twenty Five Crore respectively as on 31st March, 2018, therefore, Regulation 23(9) is not applicable to our Company.

Hence, our Company is not required to submit Related Party Transactions Disclosure as required under Regulation 23(9) of the SEBI (LODR) Regulations, 2015 for the financial year ended March, 2019.

Please take the same on your records.

Pdf Link: Panafic Industrials Ltd - Non-Applicability Of Regulation 23(9) Of The SEBI (LODR) Regulations, 2015 For The Financial Year Ended March, 2019

Source : BSE - www.bseindia.com

Published on July 13, 2019

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