Prizor Viztech Limited, a technology company listed on the NSE SME platform, has formally communicated to the National Stock Exchange of India Limited (NSE) that it is exempt from filing the Corporate Governance Report for the quarter ending 31st March 2025. The declaration was made through an official letter dated April 11, 2025, citing Regulation 15(2)(b) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, commonly referred to as SEBI LODR.

As per the provisions of Regulation 15(2)(b) of SEBI LODR, the compliance requirements related to corporate governance under various specified regulations and schedules are not applicable to entities that have listed their specified securities on the SME Exchange. These exempted regulations include Regulations 17 through 27, including the clauses of sub-regulation (2) of Regulation 46, and Schedules C, D, and E of SEBI LODR.

Prizor Viztech Limited has clarified that since its equity shares were listed on the NSE SME platform on July 22, 2024, it qualifies for the exemption as outlined under the said regulation. The exemption relieves the company from submitting the Quarterly Compliance Report on Corporate Governance under Regulation 27(2) for the relevant quarter.

The official communication, signed by Hetaxi Bhatt, Company Secretary and Compliance Officer of the company, affirms that Prizor Viztech is recognized as an SME Company as per SEBI’s classification. The company further confirmed that it is in adherence to SEBI LODR and has met all necessary compliance obligations that are applicable to entities listed on the SME platform.

This disclosure is significant as it reflects the differentiation in compliance obligations between main board-listed companies and SME-listed entities. Small and Medium Enterprises (SMEs) listed on designated SME platforms such as NSE SME or BSE SME enjoy certain regulatory relaxations, especially in the early stages of their listing, to foster growth and reduce the compliance burden.

The exemption also indicates that Prizor Viztech is focusing its resources on operational and strategic development rather than navigating extensive compliance protocols, which are more relevant for large-cap or mainboard-listed companies.

Key regulations exempted under this provision include:

• Regulation 17: Board of directors

• Regulation 18: Audit committee

• Regulation 19: Nomination and Remuneration Committee

• Regulation 20: Stakeholders Relationship Committee

• Regulation 21: Risk Management Committee

• Regulation 22-27: Various governance and disclosure obligations

Additionally, the clauses (b) to (i) and (t) of Regulation 46(2) (concerning the contents of the company’s website) and the Corporate Governance disclosures in Schedule V (Parts C, D, and E) are also not applicable.

The Company Identification Number (CIN) of Prizor Viztech Limited is L26401GJ2017PLC095719, and its registered office is located at 514, Maple Trade Center, Near Surdhara Circle, Thaltej, Ahmedabad, Gujarat.

The company’s NSE Symbol is PRIZOR, and its ISIN is INEOVIN01017.

With this declaration, Prizor Viztech continues to demonstrate regulatory awareness while taking advantage of the exemptions offered under the SME framework. This move ensures that stakeholders are informed about the company's compliance status, even in the absence of a formal corporate governance report filing.

It is also important to note that such exemptions are automatic and conditional upon the listing status. Should the company migrate to the mainboard of NSE or BSE in the future, the full set of corporate governance regulations would then become applicable, and the company would be required to file the reports accordingly.

In summary, Prizor Viztech Limited’s confirmation of non-applicability of corporate governance compliance reporting under SEBI LODR for Q4 FY25 is both a routine regulatory update and a transparent disclosure that reaffirms its SME status and compliance posture in line with SEBI’s differentiated framework for small enterprises.

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