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Visagar Polytex Ltd — Regulatory Filings 2026
May 30, 2026
63430_rns_2026-05-30_5a9a56f6-d932-43f1-b32e-11c19b3ecce5.pdf
Regulatory Filings
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VISAGAR
you dream. we create.
Date: 30/05/2026
To,
| The Manager
BSE Limited
Corporate Relationship Department
P.J Towers, Dalal Street, Fort, Mumbai -400001 | The National Stock Exchange of India Limited
Exchange Plaza, Plot No. C/1, G Block,
Bandra Kurla Complex,
Bandra (E), Mumbai – 400 051 |
| --- | --- |
| BSE Scrip ID – VIVIDHA
BSE Scrip Code - 506146 | ISIN Code- INE370E01029
NSE Scrip code - VIVIDHA |
Dear Sir,
SUB: Compliance under Regulation 24(A) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.
In terms of Regulation 24(A) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, we enclose herewith the Secretarial Compliance Report duly issued by M/s. Kirti Sharma & Associates, Practicing Company Secretary, for the financial year ended 31st March, 2026.
Kindly take the above on record and acknowledge the receipt of the same.
Thanking You
For Visagar Polytex Limited
TILOKCHAN
D
MANAKLAL
KOTHARI
Telokchand Kothari
Managing Director
DIN: 00413627
VISAGAR POLYTEX LIMITED
907/908, Dev Plaza, S. V. Road, Opp. Andheri Fire Station, Andheri (W), Mumbai-400058, Maharashtra
Tel. No. 022-4603 7495 Email ID: [email protected] Website: www.visagarpolytex.in
CIN: L65990MH1983PLC030215
KIRTI SHARMA & ASSOCIATES
SECRETARIAL COMPLIANCE REPORT OF
VISAGAR POLYTEX LIMITED
FOR THE YEAR ENDED MARCH 31, 2026
(Pursuant to SEBI Circular No. CIR/CFD/CMD1/27/2019 Dated February 8, 2019)
To,
The Members
VISAGAR POLYTEX LIMITED
CIN: L65990MH1983PLC030215
907/908, DEV PLAZA, OPP. ANDHERI FIRE STATION,
S.V. ROAD, ANDHERI (WEST), MUMBAI-400058
We, KIRTI SHARMA & ASSOCIATES, Practicing Company Secretaries, have examined:
(a) all the documents and records made available to us and explanation provided by the VISAGAR POLYTEX LIMITED (“the listed entity”),
(b) the filings/ submissions made by the listed entity to the stock exchanges,
(c) website of the listed entity,
(d) any other document/ filing, as may be relevant, which has been relied upon to make this certification,
for the year ended 31st March, 2026 (“Review Period”) in respect of compliance with the provisions of :
(a) the Securities and Exchange Board of India Act, 1992 (“SEBI Act”) and the Regulations, circulars, guidelines issued thereunder; and
(b) the Securities Contracts (Regulation) Act, 1956 (“SCRA”), rules made thereunder and the Regulations, circulars, guidelines issued thereunder by the Securities and Exchange Board of India (“SEBI”);
The specific Regulations, whose provisions and the circulars/ guidelines issued thereunder, have been examined, include:
(a) Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015;
(b) Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018 - Not applicable during the Review Period;
(c) Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011;
(d) Securities and Exchange Board of India (Buyback of Securities) Regulations, 2018 - Not applicable during the Review Period;
(e) Securities and Exchange Board of India (Share Based Employee Benefits) Regulations, 2014 - Not applicable during the Review Period;
(f) Securities and Exchange Board of India (Issue and Listing of Non-Convertible Securities) Regulations, 2021 - Not applicable during the Review Period;
41/A, Tara Chand Dutta Street, Kolkata-700 073
Email: [email protected], Contact No. +91 9051328410/8240868503
KS
KIRTI SHARMA & ASSOCIATES
(g) Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015;
(h) The Securities and Exchange Board of India (Registrars to an Issue and Share Transfer Agents) Regulations, 1993 regarding the Act and dealing with client.
(i) The Securities and Exchange Board of India(Depositories and Participants) Regulations, 2018;
(j) Securities and Exchange Board of India (Buyback of Securities) Regulations, 2018 - Not applicable during the Review Period;
(k) Securities and Exchange Board of India (Delisting of Equity Shares) Regulations, 2021;- Not applicable during the Review Period; and
(l) Other applicable regulations and circulars/guidelines issued thereunder;
and based on the above examination, We hereby report that, during the Review Period:
(a) The listed entity has complied with the provisions of the above Regulations and circulars/guidelines issued thereunder, except in respect of matters specified below:-
| Sr. No. | Compliance Requirement (Regulations/circulars/guidelines including specific clause) | Regulation/CircularNo. | Deviations | Action Taken by | Type of Action | Detailsof Violation | Fine Amount | Observations/Remarks of the Practicing Company Secretary | Management Response | Remarks |
|---|---|---|---|---|---|---|---|---|---|---|
| 1. | Regulation 29(2) 29(3) | SEBI Master Circular No. SEBI/HO/CFD /PoD2/CIR/P/0 155 dated November 11, 2024 | Non-Compliance with the provisions Regulation 29(2) 29(3) of SEBI (LODR) Regulations, 2015 respectively i.e. Delay in furnishing prior intimation about the meeting of the board of directors | BSE & NSE | Imposition of Fines | As per regulation 29 the listed entity shall give prior intimation of at least two working days in advance, excluding the date of the intimation and date of the meeting,] to stock exchange about the meeting of the board of directors. However Company has delayed in intimating the same to exchange as it was not given at least 2 working days in advance | Rs. 11800/- From both the exchange (NSE & BSE) | The Listed Entity has paid the penalty amount of Rs. 11800/- each to both Exchange on 6th January, 2026 | Company will make all best efforts to adhere to the regulatory requirements in timely manner. | This fine relates to intimation of Board Meeting for approval of unaudited Financial Results for the half year ended 30.9.2025 |
| 2. | Regulation 17(1) | SEBI Circular No. SEBI/HO/CFD/P oD2/CIR/P/0155 dated November 11, 2024 | Non-Compliance with the provisions Regulation 17(1) of SEBI (LODR) Regulations, 2015 respectively i.e. Non-compliance with the requirements pertaining to the composition of | BSE & NSE | Imposition of Fines | As per Regulation 3(2A) of the SEBI (LODR)Regulations, 2015 - the provisions of these regulations, which become applicable to a listed entity on the basis of criteria of market capitalisation, shall continue to apply to such an entity unless its ranking changes in the list prepared in | Rs. 118000/- From both the exchange (NSE & BSE) | The Listed Entity has file the application for waiver of fines levied on December 15, 2025 on both NSE and BSE | The Listed Entity has file the application n for waiver of fines levied on December 15, 2025 on both NSE and BSE | For June quarter, 2025 |
41/A, Tara Chand Dutta Street, Kolkata-700 073
Email: [email protected], Contact No. +91 9051328410/8240868503
KIRTI SHARMA & ASSOCIATES
| the Board including failure to appoint woman director | accordance with sub-regulation (2) of this regulation and such change results in the listed entity remaining outside the applicable threshold for a period of three consecutive years. Company was in top 2000 list as per market capitalisation in the year 2023 accordingly listed Company required to have minimum 6 directors however Company had only 5 directors in the Board from 10.06.2025 till 30.06.2025 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| 3. | Regulation 17(1) | SEBI circular no. SEBI/HO/CFD /PoD2/CIR/P/2 023/120 dated July 11, 2023 | Non-Compliance with the provisions Regulation 17(1) of SEBI (LODR) Regulations, 2015 respectively i.e. Non-compliance with the requirements pertaining to the composition of the Board including failure to appoint woman director | BSE & NSE | Imposition of Fines | As per Regulation 3(2A) of the SEBI (LODR)Regulations, 2015 - the provisions of these regulations, which become applicable to a listed entity on the basis of criteria of market capitalisation, shall continue to apply to such an entity unless its ranking changes in the list prepared in accordance with sub-regulation (2) of this regulation and such change results in the listed entity remaining outside the applicable threshold for a period of three consecutive years. Company was in top 2000 list as per market capitalisation in the year 2023 accordingly listed Company required to have minimum 6 directors however Company had only 5 directors in the Board from 10.06.2025 till 13.08.2025. | Rs. 253700/- From both the exchange (NSE & BSE) | The Listed Entity has file the application for waiver of fines levied on December 15, 2025 on both NSE and BSE | The Listed Entity has file the application n for waiver of fines levied on December 15, 2025 on both NSE and BSE | For September quarter 2025 |
41/A, Tara Chand Dutta Street, Kolkata-700 073
Email: [email protected], Contact No. +91 9051328410/8240868503
KIRTI SHARMA & ASSOCIATES
| 4. | Regulation 24(A) | Letter No NSE/LIST-SOP/FINES/0704 | Non-Compliance with the provisions of Regulation 24(A) of SEBI (LODR) Regulations, 2015. | NSE | Imposition of Fines | Non-Compliance with the provisions under Regulation 24(A)-Delay in submission of Annual Secretarial Compliance Report. | Rs. 18800/- From the NSE | The Listed Entity has paid the penalty amount of Rs. 18800/- each to NSE on 27th June, 2026 | The Company sincerely acknowledges the non-compliance related to Delay in submission of Annual Secretarial Compliance Report. | Fine related to March, 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
(b) The listed entity has taken the following actions to comply with the observations made in previous reports:
| Sr. No. | Observations/Remarks of the Practicing Company Secretary in the previous reports | Observations made in the secretarial compliance report for the year ended ... (the years are to be mentioned) | Compliance Requirement (Regulations/circulars/guidelines including specific clause) | Details of violation / deviations and actions taken / penalty imposed, if any, on the listed entity | Remedial actions, if any, taken by the listed entity | Comments of the PCS on the actions taken by the listed entity |
|---|---|---|---|---|---|---|
| 1. | The Listed Entity has paid the penalty amount of Rs. 365800/- each to both Exchange on 10th December, 2024 | As per Regulation 3(2A) of the SEBI (LODR)Regulations, 2015 - the provisions of these regulations, which become applicable to a listed entity on the basis of criteria of market capitalisation, shall continue to apply to such an entity unless its ranking changes in the list prepared in accordance with sub - regulation (2) of this regulation and such change results in the listed entity remaining outside the applicable threshold for a period of three consecutive years. | Regulation 17(1) SEBI circular no. SEBI/HO/CFD/P oD2/CIR/P/2023/120 dated July 11, 2023 | Non-Compliance with the provisions Regulation 17(1) of SEBI (LODR) Regulations, 2015 respectively i.e. Noncompliance with the requirements pertaining to the composition of the Board including failure to appoint woman director | The Listed Entity has paid the penalty amount of Rs. 365800/- each to both Exchange on 10th December, 2024 The Company sincerely acknowledges the noncompliance in appointment of sixth director in the Board. Company has after noticed the fact, appointed on immediate Basis 6th Director in the Board. The Company remains committed to reinforcing internal processes to ensure strict adherence to prescribed timelines | The Listed Entity has paid the penalty amount of Rs. 365800/- each to both Exchange on 10th December, 2024 |
41/A, Tara Chand Dutta Street, Kolkata-700 073
Email: [email protected], Contact No. +91 9051328410/8240868503
KIRTI SHARMA & ASSOCIATES
| Company was in top 2000 list as per market capitalisation in the year 2023 accordingly listed Company required to have minimum 6 directors however Company had only 5 directors in the Board from 01.04.2024 till 11.12.2024. | going forward. | |||||
|---|---|---|---|---|---|---|
| 2. | The Listed Entity has paid the penalty amount of Rs. 11,800/- each to both Exchange on 17th December, 2024 | As per regulation 29 the listed entity shall give prior intimation of at least two working days in advance, excluding the date of the intimation and date of the meeting.] to stock exchange about the meeting of the board of directors. However Company has delayed in intimating the same to exchange as it was not given at least 2 working days in advance | Regulation 29(2)/29(3) SEBI/HO/CFD/P oD2/CIR/P/2023/ 120 dated July 11, 2023 | Delay in Furnishing prior Intimation about the meeting of the board of directors | The Listed Entity has paid the penalty amount of Rs. 11,800/- each to both Exchange on 17th December, 2024 Company will make all best efforts to adhere to the regulatory requirements in timely manner. | The Listed Entity has paid the penalty amount of Rs. 11,800/- each to both Exchange on 17th December, 2024 |
| 3. | The Listed Entity has paid the penalty amount of Rs. 4,24,800/- each to both Exchange on 29th March, 2025. | As per Regulation 3(2A) of the SEBI (LODR)Regulations , 2015 - the provisions of these regulations, which become applicable to a listed entity on the basis of criteria of market capitalisation, shall continue to apply to such an entity unless its ranking changes in the list | Regulation 17(1) SEBI circular no. SEBI/HO/CFD/P oD2/CIR/P/2023/ 120 dated July 11, 2023 | Non-Compliance with the provisions Regulation 17(1) of SEBI (LODR) Regulations, 2015 respectively i.e. Noncompliance with the requirements pertaining to the composition of the Board including failure to appoint woman director | The Listed Entity has paid the penalty amount of Rs. 4,24,800/- each to both Exchange on 29th March, 2025. The Company sincerely acknowledges the noncompliance in appointment of sixth director in the Board. Company has after noticed the | The Listed Entity has paid the penalty amount of Rs. 4,24,800/- each to both Exchange on 29th March, 2025. |
41/A, Tara Chand Dutta Street, Kolkata-700 073
Email: [email protected], Contact No. +91 9051328410/8240868503
KIRTI SHARMA & ASSOCIATES
| prepared in accordance with sub-regulation (2) of this regulation and such change results in the listed entity remaining outside the applicable threshold for a period of three consecutive years. Company was in top 2000 list as per market capitalisation in the year 2023 accordingly listed Company required to have minimum 6 directors however Company had only 5 directors in the Board from 01.04.2024 till 11.12.2024. | fact, appointed on immediate Basis 6th Director in the Board. The Company remains committed to reinforcing internal processes to ensure strict adherence to prescribed timelines going forward. | |||||
|---|---|---|---|---|---|---|
| 4. | The Listed Entity has paid the penalty amount of Rs. 11,800/- each to both Exchange on 21st April, 2025 | The Listed Entity has received penalty letter from both the Exchange For selection of inappropriate subject for fund raising under scheme of arrangement. | Regulation 29(2)/29(3) SEBI/HO/CFD/P oD2/CIR/P/2023/ 120 dated July 11, 2023 | Due to selection of inappropriate subject for fund raising under scheme of arrangement. | The Listed Entity has paid the penalty amount of Rs. 11,800/- each to both Exchange on 21st April, 2025 Company will make all best efforts to adhere to the regulatory requirements in timely manner. | The Listed Entity has paid the penalty amount of Rs. 11,800/- each to both Exchange on 21st April, 2025 |
(c) I/we hereby report that, during the review period the compliance status of the listed entity with the following requirements:
| S. No. | Particulars | Compliance Status (Yes/No/NA) | Observations/ Remarks by PCS |
|---|---|---|---|
| 1. | Secretarial Standards: The compliances of the listed entity are in accordance with the applicable Secretarial Standards (SS) issued by the | Yes | Not Applicable |
41/A, Tara Chand Dutta Street, Kolkata-700 073
Email: [email protected], Contact No. +91 9051328410/8240868503
KIRTI SHARMA & ASSOCIATES
| Institute of Company Secretaries India (ICSI). | |||
|---|---|---|---|
| 2. | Adoption and timely updation of the Policies: | ||
| • All applicable policies under SEBI Regulations are adopted with the approval of board of directors of the listed entities | |||
| • All the policies are in conformity with SEBI Regulations and has been reviewed & timely updated as per the regulations/circulars/guidelines issued by SEBI. | Yes | Not Applicable | |
| 3. | Maintenance and disclosures on Website: | ||
| • The Listed entity is maintaining a functional website | |||
| • Timely dissemination of the documents/ information under a separate section on the website | |||
| • Web-links provided in annual corporate governance reports under Regulation 27(2) are accurate and specific which re-directs to the relevant document(s)/ section of the website | Yes | Not Applicable | |
| 4. | Disqualification of Director: | ||
| None of the Director of the Company are disqualified under Section 164 of Companies Act, 2013 | Yes | Not Applicable | |
| 5. | Details related to Subsidiaries of listed entities: | ||
| (a) Identification of material subsidiary companies | |||
| (b) Requirements with respect to disclosure of material as well as other subsidiaries | Not Applicable | The Listed entity does not have any subsidiary company. | |
| 6. | Preservation of Documents: | ||
| The listed entity is preserving and maintaining records as prescribed under SEBI Regulations and disposal of records as per Policy of Preservation of Documents and Archival policy prescribed under the LODR Regulations. | Yes | Not Applicable | |
| 7. | Performance Evaluation: | ||
| The listed entity has conducted performance evaluation of the Board, | Yes | The company has conducted the performance evaluation in the first meeting of the Board of Directors dated |
41/A, Tara Chand Dutta Street, Kolkata-700 073
Email: [email protected], Contact No. +91 9051328410/8240868503
KIRTI SHARMA & ASSOCIATES
| Independent Directors and the Committees at the start of every financial year as prescribed in SEBI Regulations. | 27^{th} May, 2025 | ||
|---|---|---|---|
| 8. | Related Party Transactions: | ||
| (a) The listed entity has obtained prior approval of Audit Committee for all Related party transactions | |||
| (b) In case no prior approval obtained, the listed entity shall provide detailed reasons along with confirmation whether the transactions were subsequently approved/ratified/rejected by the Audit committee. | Yes | Not Applicable | |
| 9. | Disclosure of events or information: | ||
| The listed entity has provided all the required disclosure(s) under Regulation 30 along with Schedule III of the LODR Regulations within the time limits prescribed thereunder. | Yes | Not Applicable | |
| 10. | Prohibition of Insider Trading: | ||
| The listed entity is in compliance with Regulation 3(5) & 3(6) SEBI (Prohibition of Insider Trading) Regulations, 2015. | Yes | Not Applicable | |
| 11. | Actions taken by SEBI or Stock Exchange(s), if any: | ||
| No actions taken against the listed entity/ its promoters/ directors/ subsidiaries either by SEBI or by Stock Exchanges (including under the Standard Operating Procedures issued by SEBI through various circulars) under SEBI Regulations and circulars/ guidelines issued thereunder (or) | |||
| The actions taken against the listed entity/ its promoters/ directors/ subsidiaries either by SEBI or by Stock Exchanges are specified in the last column. | Yes | Fines imposed by BSE and NSE under SEBI SOP Circular which was paid by Company. As per the verification and confirmation provided to us by the Company, there is no other additional non-compliance observed for any SEBI regulation/circular/guidance note, etc. | |
| 12. | Resignation of statutory auditors from the listed entity or its material subsidiaries | ||
| In case of resignation of statutory auditor from the listed entity or any of its material subsidiaries during the financial year, the listed entity and / or its material subsidiary(ies) has / have complied with paragraph 6.1 and 6.2 of section V-D of | Not Applicable | No such event occurred during the financial year 2025-26 |
41/A, Tara Chand Dutta Street, Kolkata-700 073
Email: [email protected], Contact No. +91 9051328410/8240868503
KIRTI SHARMA & ASSOCIATES
| chapter V of the Master Circular on compliance with the provisions of the LODR Regulations by listed entities. | |||
|---|---|---|---|
| 13. | No additional non-compliances observed: |
No additional non-compliance observed for any of the SEBI regulation/circular/guidance note etc. except as reported above. | Not Applicable | 1. Mr. Kaushal Yadav, Independent Director of the Listed entity is not registered under the Database of Independent Directors.
-
The Listed entity has failed to give intimation of Board meeting as per regulation 29(2)/29(3) of SEBI LODR on time for the board meeting held for the quarter and half year ended 30.09.2025.
-
The Board Composition is not as per the Regulation 17(1) of SEBI LODR during the September quarter.
As per the verification and confirmation provided to us by the Company, there is no other additional noncompliance observed for any SEBI regulation/circular/guidance note, etc. |
Assumptions & Limitation of scope and Review:
- Compliance of the applicable laws and ensuring the authenticity of documents and information furnished, are the responsibilities of the management of the listed entity.
- Our responsibility is to certify based upon our examination of relevant documents and information. This is neither an audit nor an expression of opinion.
- We have not verified the correctness and appropriateness of financial Records and Books of Accounts of the listed entity.
- This Report is solely for the intended purpose of compliance in terms of Regulation 24A (2) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and is neither an assurance as to the future viability of the listed entity nor of the efficacy or effectiveness with which the management has conducted the affairs of the listed entity.
41/A, Tara Chand Dutta Street, Kolkata-700 073
Email: [email protected], Contact No. +91 9051328410/8240868503
KS
KIRTI SHARMA & ASSOCIATES
For Kirti Sharma & Associates
Practicing Company Secretaries
KIRTI
SHARMA
Digitally signed by KIRTI
SHARMA
Date: 2026.05.30
21:16:55 +05'30'
Kirti Sharma
Proprietor
M. No.: A41645
COP No.: 26705
Peer Review Certificate no. 6789/2025
UDIN: A041645H000559701
Date : 30th May, 2026
Place : Kolkata
41/A, Tara Chand Dutta Street, Kolkata-700 073
Email: [email protected], Contact No. +91 9051328410/8240868503