Adani Stocks Surge Amid Legal Developments and Market Rally
08 Apr 2026
Prabhu steel industries Limited has officially declared to stock exchanges that it is exempt from submitting the Annual Secretarial Compliance Report under SEBI Regulation 24A. The declaration was communicated to BSE Limited and The Calcutta Stock Exchange Association Limited on April 08, 2026.
Regulatory Background
The Securities and Exchange Board of India amended the Listing Obligations and Disclosure Requirements Regulation, 2015, introducing Regulation 24A which mandates secretarial audits for listed companies. Under this regulation, every listed company and its material unlisted subsidiaries incorporated in India must undertake secretarial audit and annex a secretarial audit report with their annual report, effective from the year ended March 31, 2019.
Requirement: Details Regulation: 24A - Secretarial Audit Submission Timeline: Within 60 days of Financial Year end Effective Date: March 31, 2019 Report Format: As prescribed by Company Secretary in practice
Exemption Criteria
Prabhu Steel Industries Limited qualifies for exemption under Regulation 15(2)(a) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This exemption applies to specific categories of listed entities that meet certain financial thresholds.
Exemption Category: Criteria Paid-up Equity Share Capital: Not exceeding rupees ten crore Net Worth: Not exceeding rupees twenty-five crores Assessment Period: As on last day of previous financial year Alternative Exemption: Listed on SME Exchange
Company Communication
The declaration was signed by Mr. Dinesh Agrawal, Managing Director (DIN: 00291086), and submitted to both stock exchanges where the company's securities are listed. The communication referenced SEBI Circular dated February 08, 2019 (CIR/CFD/CMDI/27/2019) which provided guidance on the implementation of these requirements.
Exchange: Scrip Code BSE Limited: 506042 The Calcutta Stock Exchange Association Limited: 026117
Regulatory Compliance Impact
The exemption under Regulation 15(2) extends beyond just the secretarial compliance report, covering multiple regulatory provisions including regulations 17 through 27 and specific clauses of regulation 46. This comprehensive exemption is designed to reduce compliance burden on smaller listed entities while maintaining essential regulatory oversight.
The company has requested both stock exchanges to take this declaration on record, ensuring proper documentation of its exempt status for the relevant financial year. This formal communication demonstrates the company's commitment to transparent regulatory compliance and proper disclosure to market participants.
Prabhu Steel Industries Limited has formally declared that it does not fall under the Large Corporate framework as specified in SEBI circular dated November 26, 2018. The company has communicated this declaration to both BSE Limited and The Calcutta Stock Exchange Association Limited.
Regulatory Declaration Details
The company's declaration references two key SEBI circulars regarding the Large Corporate framework. The primary circular SEBI/HO/DDHS/CIR/P/2018/144 dated November 26, 2018, and the subsequent circular SEBI/HO/DDHS/DDHS-RACPOD1/P/CIR/2023/172 dated October 19, 2023, both relate to fund raising by issuance of debt securities by Large Entities and associated disclosure requirements.
Parameter: Details Declaration Date: April 8, 2026 Primary SEBI Circular: SEBI/HO/DDHS/CIR/P/2018/144 dated November 26, 2018 Secondary SEBI Circular: SEBI/HO/DDHS/DDHS-RACPOD1/P/CIR/2023/172 dated October 19, 2023 Signatory: Dinesh Agrawal, Managing Director DIN: 00291086
Stock Exchange Communication
The declaration was submitted to both stock exchanges where Prabhu Steel Industries Limited is listed. The company communicated with BSE Limited's Department of Corporate Services and The Calcutta Stock Exchange Association Limited's Secretary office.
Exchange: Scrip Code BSE Limited: 506042 Calcutta Stock Exchange: 026117
Company Information
Prabhu Steel Industries Limited, established in 1972, operates from its registered office located at Plot No. 158, Small Factory Area, Bagadganj, Nagpur – 440 008, Maharashtra. The company holds CIN L28100MH1972PLC015817 and has been in operation for over five decades in the steel industry.
Compliance Implications
By declaring its non-applicability under the Large Corporate framework, Prabhu Steel Industries Limited has clarified that it is not required to comply with the specific disclosure and compliance requirements mandated for Large Corporates under the referenced SEBI circulars. This declaration ensures regulatory clarity regarding the company's compliance obligations related to debt securities issuance and associated disclosures.
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