Southern Infosys has informed that, as per regulation 15(2), the compliance with regard to disclosure of related party transaction under regulation 23(9) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 is not applicable on the company for the reason that as on last date of financial year 31st March 2021, paid up equity share capital and Net worth of the company were Rs 5.02 Crores and Rs 5.24 crores respectively, which is less than prescribed limit of Rs 10 crores and 25 crores. Further, it has informed that whenever this regulation becomes applicable, the company will duly submit the above disclosure within six months from the date of the regulation becomes applicable.
The above information is a part of company’s filings submitted to BSE.
