What's covered under the Article:

Marg Techno Projects Limited, a leading company based in Surat, Gujarat, has officially informed the stock exchanges regarding the non-applicability of Regulation 23(9) under the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 for the quarter ending March 31, 2025.

The disclosure was made on April 26, 2025, addressed to both the Bombay Stock Exchange (BSE) and the Metropolitan Stock Exchange of India (MSEI). The communications were signed by Ms. Divya Shah, Company Secretary and Compliance Officer of Marg Techno Projects Limited, ensuring complete transparency and compliance with regulatory norms.

The company clarified that under Regulation 15(2) of SEBI (LODR) Regulations, 2015, listed entities whose paid-up equity share capital does not exceed ₹10 crores and whose net worth does not exceed ₹25 crores are exempted from several corporate governance requirements, including the requirement to file related party transactions under Regulation 23(9).

According to the submitted documents:

• The paid-up equity share capital of Marg Techno Projects Limited is ₹6 crores.

• The net worth for FY 2024-25, based on unaudited books, is ₹12.89 crores.

• These figures are well within the prescribed exemption limits.

The Chartered Accountants firm, Sheladiya & Jyani, issued a CA Certificate dated April 23, 2025, confirming the company’s eligibility for the exemption. The certificate authenticated the financial figures for the past three financial years, noting that the paid-up capital and net worth for FY 2022-23, FY 2023-24, and FY 2024-25 remained below the thresholds that would otherwise trigger compliance with full corporate governance norms.

Key financial highlights from the CA Certificate are:

The CA Certificate further confirmed that the computation of net worth was done using unaudited books for FY 2024-25 and audited financial statements for FY 2022-23 and FY 2023-24, ensuring credibility and adherence to standard accounting practices.

The company made it explicitly clear in its letter that it falls within the ambit of the exemption provided under Regulation 15(2) of the SEBI LODR Regulations, 2015, and thus, the provisions relating to Corporate Governance compliance mentioned under Regulations 17, 17A, 18, 19, 20, 21, 22, 23, 24, 24A, 25, 26, 27, and certain sub-regulations of Regulation 46 and Schedules C, D, and E are not applicable.

The important points highlighted in the disclosure are:

• No requirement to file Related Party Transactions disclosure for March 2025 quarter.

• Compliance relief from heavy corporate governance regulations, helping in easing reporting burdens.

• Assurance that the company’s size and financials are appropriately within the relaxation limits provided by SEBI.

This move also reflects Marg Techno Projects Limited’s proactive approach towards maintaining transparency with its shareholders and regulators by timely submitting all necessary documents and certifications.

The disclosure closes by requesting the stock exchanges to take the information on record, thereby ensuring that the investors, stakeholders, and regulatory authorities are well informed about the company’s compliance status.

Conclusion:

The notification by Marg Techno Projects Limited highlights how small and mid-sized companies benefit from regulatory relaxations based on their financial strength. The company's initiative to disclose the non-applicability along with a CA certification reiterates its commitment towards responsible governance and regulatory adherence even when full compliance is not obligatory.

With a solid financial foundation and a transparent operational approach, Marg Techno Projects Limited continues to strengthen its reputation among stakeholders while focusing on growth opportunities.

The Upcoming IPOs in this week and coming weeks are Ather Energy, Iware Supplychain Services, Arunaya Organics,Kenrik Industries.

The Closed IPOs are Tankup Engineers.

Start your Stock Market Journey and Apply in IPO by Opening Free Demat Account in Choice Broking FinX.

Join our Trading with CA Abhay Telegram Channel for regular Stock Market Trading and Investment Calls by CA Abhay Varn - SEBI Registered Research Analyst.