PS Raj Steels Limited, a company listed on the National Stock Exchange (NSE) Emerge platform since February 19, 2025, has formally notified that it is not required to submit a Corporate Governance Report for the quarter ending March 31, 2025. This exemption comes under Regulation 27(2) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as outlined in SEBI's guidelines for listed entities.

Non-Applicability of Corporate Governance Provisions
As per Regulation 27(2) of SEBI (LODR) Regulations, companies listed on stock exchanges are required to submit quarterly Corporate Governance reports. However, this obligation does not apply to all listed entities. Specifically, entities that meet certain criteria under Regulation 15 of the SEBI regulations are exempt from complying with corporate governance provisions. These criteria include:

1. Companies with paid-up equity capital not exceeding ₹10 crore.

2. Companies with net worth not exceeding ₹25 crore, as on the last day of the previous financial year.

3. Companies listed on the SME Exchange platform.

Since PS Raj Steels Limited meets the above conditions, it is not required to comply with the corporate governance provisions specified in Regulations 17 to 27 of SEBI (LODR), including submitting the quarterly Corporate Governance Report.

Reason for Non-Applicability
PS Raj Steels, which was recently listed on the NSE Emerge platform, operates under different regulatory requirements than larger listed companies. The provisions relating to corporate governance are specifically exempt for entities listed on SME exchanges, which are subject to a less stringent set of rules. As a result, PS Raj Steels is not obligated to file a Corporate Governance Report for the quarter ending March 31, 2025.

Details of the Exemption
In the letter addressed to the Listing Compliance Department of the National Stock Exchange of India, PS Raj Steels confirmed that it is not required to submit the Corporate Governance Report as specified under Regulation 27(2) of SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015 for the mentioned quarter. This declaration was made in compliance with SEBI’s guidelines for companies listed on the SME Exchange platform.

The company further emphasized that the provisions related to corporate governance do not apply to it because of its recent listing on the NSE Emerge platform. Since the company meets the required conditions for exemption, it has been formally excused from the regulatory obligation to submit a quarterly governance report.

Impact of the Exemption
This non-applicability of the Corporate Governance Report allows PS Raj Steels to focus its efforts on other aspects of business management, while still maintaining compliance with the regulations applicable to SMEs. By not having to submit the report, the company benefits from simplified regulatory requirements during its initial listing period on the NSE Emerge platform.

Conclusion
In conclusion, PS Raj Steels Limited has taken the necessary steps to notify stakeholders and the regulatory authorities regarding the non-applicability of the Corporate Governance Report for the quarter ending March 31, 2025. This exemption, as per the SEBI regulations, highlights the company's adherence to the rules applicable to SMEs listed on the NSE Emerge platform. The company remains in compliance with all other relevant regulatory requirements, while focusing on growing its operations and enhancing stakeholder value.

This information will be updated on PS Raj Steels' official website, providing transparency to investors and regulators alike. The company looks forward to continuing its operations under the guidelines for listed entities on the SME Exchange.

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.