Steel Strips Infrastructures has informed that as per regulation 15(2) of the SEBI (LODR) Regulations, 2015, the compliance with the corporate governance provisions as specified in regulations 17, 17A, 18, 19, 20, 21, 22, 23, 24,24A, 25, 26, 26A, 27 and clauses (b) to (i) and t of sub-regulation (2) of regulation 46 and para C, D and E of Schedule V shall not apply, in respect of 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. This is to certify that the paid-up equity share capital of the Company is Rs.8,64,30,000/- thereby not exceeding Rs.10,00,00,000/- as prescribed under the above regulation. Further, the Net-worth of the Company is Rs 2,05,89,000/- which is less than Rs 25,00,00,000/- as on the last day of year ended i.e. 31st March, 2024. Accordingly, the Company is exempted to comply with provisions as per exemption given in regulation 15(2) of the SEBI (LODR) Regulations, 2015 including submission of Related Party Disclosure under Reg. 23(9), Secretarial Audit and Secretarial Compliance Report under Reg. 24(A), Corporate Governance Report as required under regulation 27(2) of SEBI (LODR), Regulations, 2015. The company has confirmed that the aforesaid mentioned provisions will be complied by them within six months of it becoming applicable at a later date to the Company.
The above information is a part of company’s filings submitted to BSE.
