Frog Cellsat Limited Exempt from Corporate Governance Reporting for Q3 FY24

Team Finance Saathi

16/Jan/2025

What's covered under the Article:

Frog Cellsat Limited clarifies exemption from corporate governance reporting for Q3 FY24.
The exemption applies due to SME Exchange listing as per SEBI LODR Regulations.
Compliance update highlights key criteria for exemption under SEBI rules.

Frog Cellsat Limited has officially informed the National Stock Exchange of India about the non-applicability of the Corporate Governance Report under Regulation 27(2) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 for the quarter ended December 31, 2024.

As per Regulation 15 of the SEBI LODR Regulations, companies that meet certain criteria, including having a paid-up equity share capital of not exceeding Rs. 10 crore and net worth of not exceeding Rs. 25 crore as of the last day of the previous financial year, are exempt from compliance with corporate governance provisions. Additionally, this exemption extends to companies that have listed their **specified securities on the SME Exchange.

As Frog Cellsat Limited qualifies under these criteria, having its securities listed on the SME Exchange, it has confirmed that it is not obligated to submit the corporate governance compliance report for the quarter ending December 31, 2024. This exemption has been duly acknowledged, and the company has requested the exchange to update its records accordingly.

This move aligns with the provisions established by SEBI, offering relief to companies listed on the SME Exchange from certain compliance requirements, allowing them to focus on growth and development in a competitive market.

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Frog Cellsat Limited Exempt from Corporate Governance Reporting for Q3 FY24

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