Viceroy Hotels Limited submitted the Secretarial Compliance Report for the financial year 2024-25, as required under Regulation 24A of SEBI LODR Regulations, 2015.
The report, issued by M/s. S.S. Reddy & Associates, indicates the following:
Delay in filing half-yearly disclosure of Related Party Transactions for the half-year ended 31 March 2025 by one day, resulting in a penalty of ₹ 5,000 from each of the stock exchanges (BSE and NSE). The disclosure was filed on 31 May 2024 against the due date of 30 May 2024. The penalty has been paid, and the company will ensure timely compliance in the future.
Non-disclosure of non-finalization of the forensic audit, leading to a warning letter from SEBI and NSE. The management clarified that the forensic audit, initiated by ARCIL and conducted by Baker Tilly, was in the draft stage when the CIRP process concluded. The management assured that they would abide by applicable laws and disclose all events as required.
The company is compliant with applicable Secretarial Standards (SS) issued by ICSI.
All applicable policies under SEBI Regulations are adopted with the approval of the board of directors and are in conformity with SEBI Regulations.
The listed entity maintains a functional website with timely dissemination of information.
None of the directors are disqualified under Section 164 of the Companies Act, 2013.
Details related to subsidiaries have been examined; all subsidiaries were sold by 2 July 2024.
The company is preserving and maintaining records as prescribed under SEBI Regulations.
Performance evaluation of the board, independent directors, and committees has been conducted.
Prior approval of the audit committee has been obtained for all related party transactions.
All required disclosures under Regulation 30 along with Schedule III of SEBI LODR Regulations, 2015, were provided within the prescribed time limits, except for a delay in disclosing a demand for payment of cross subsidy surcharge for FYs 2005-06 to 2014-15 for an amount of ₹ 3,55,99,834, which was delayed due to the contemplation of the demand notice and procedures involved in obtaining the stay order.
The listed entity is in compliance with Regulation 3(5) & 3(6) SEBI (Prohibition of Insider Trading) Regulations, 2015.
No actions have been taken against the listed entity/its promoters/directors/subsidiaries by SEBI or Stock Exchanges.