ABS Marine Services Limited, a company listed on the NSE SME platform, has announced the non-applicability of the Corporate Governance Report for the quarter ending March 31, 2025, in compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Non-Applicability of Corporate Governance Report

As per Regulation 15(2) of the SEBI (LODR) Regulations, 2015, companies listed on the SME platform of stock exchanges and meeting certain criteria are exempt from the corporate governance provisions under Regulations 17 to 27 and other specified clauses. ABS Marine Services Ltd. falls under this category due to its listing on the NSE SME Platform, meeting the exemption criteria stated in Regulation 15(2)(b).

The company highlighted that it does not meet the requirements to submit a Corporate Governance Report for the quarter ended March 31, 2025. The exemption applies to companies that fulfill the following conditions:

• The company’s paid-up equity share capital does not exceed Rs. 10 Crore.

• The net worth of the company does not exceed Rs. 25 Crore as on the last day of the preceding financial year.

Impact of the Exemption

This decision aligns with the provisions of Regulation 15(2), which provides relief to smaller companies listed on the SME exchanges from the extensive corporate governance disclosure requirements mandated for larger companies. ABS Marine Services Ltd. has confirmed that, in light of the above exemptions, it is not required to submit a Corporate Governance Report for the specified period.

This exemption ensures that ABS Marine Services Ltd. remains in compliance with SEBI regulations while reducing the administrative burden for smaller companies in the early stages of growth.

Details of the Communication

In the letter to the National Stock Exchange of India Limited (NSE), the company also referenced Regulation 15(2) and clarified that its listing on the SME Exchange qualifies for the exemption. The communication was sent under Ref: ABS/NSEI 0041/2025-26 on April 11, 2025, and was signed by Mr. Ganesh Saikrisshna, the Company Secretary and Compliance Officer of ABS Marine Services Limited.

The company continues to maintain transparency and compliance with all relevant regulatory requirements while utilizing the exemptions available to SMEs. The corporate governance provisions, which are generally applicable to larger listed entities, are not mandated for companies under the SME platform exemption.

Key Points to Note

• Exemption: ABS Marine Services Limited is exempt from submitting the Corporate Governance Report for Q4 FY 2024-25 due to its SME listing.

• Criteria: The company’s paid-up capital and net worth are below the thresholds stipulated in Regulation 15(2).

• SEBI Compliance: The exemption ensures the company stays compliant with SEBI (LODR) while reducing regulatory reporting burdens for smaller entities.

This move supports ABS Marine Services Ltd. in streamlining its compliance processes while still upholding its commitment to regulatory transparency within the bounds of applicable regulations for SME-listed companies.

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