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Pramara Promotions Ltd. Announces Non-Applicability of Corporate Governance Report
Team Finance Saathi
18/Jan/2025
What's covered under the Article:
- Pramara Promotions Ltd. announces the non-applicability of the Corporate Governance Report.
- The company clarifies that this exemption is due to its listing on the NSE SME Exchange.
- According to SEBI Regulation 15(2), SME-listed companies are not obligated to file Corporate Governance Reports.
Pramara Promotions Ltd. has issued an important update regarding the Corporate Governance Report under SEBI’s Listing Obligations and Disclosure Requirements (LODR). In a letter addressed to the National Stock Exchange (NSE) on January 18, 2025, the company clarified that, in compliance with Regulation 15(2) of the SEBI LODR Regulations, 2015, it is not required to file a Corporate Governance Report.
As Pramara Promotions Ltd. has listed its equity shares on the NSE SME Exchange, the company is exempt from the governance provisions stipulated under Regulation 27 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations. This means that the Corporate Governance Report, typically required for larger listed entities, does not apply to SME-listed companies such as Pramara.
The company’s Managing Director, Mr. Rohit Lamba, signed the communication and further reassured that this disclosure is in alignment with the relevant SEBI regulations. The clarification addresses the exemption for companies listed on the SME Exchange, which do not have the same mandatory governance reporting requirements as those listed on the main board of exchanges.
In conclusion, Pramara Promotions Ltd. remains compliant with the applicable rules for SME-listed companies. The company has provided this information for record-keeping by the NSE to ensure full regulatory transparency.