In a regulatory filing dated 21 July 2025, Radiowalla Network Limited, a company listed on the SME Exchange, informed the National Stock Exchange of India (NSE) that it is not required to submit a Corporate Governance Report under Regulation 27(2) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, for the quarter ended 30 June 2025.

This exemption is claimed based on Regulation 15(2) of SEBI (LODR), which allows listed entities to avoid certain corporate governance filings if they meet specific criteria.

The company submitted a Certificate of Non-Applicability, marked as Annexure A, certifying that its paid-up equity share capital does not exceed ₹10 crore, and its net worth is below ₹25 crore as on the last day of the previous financial year.

📋 Details from the Regulatory Filing:

As per the disclosure by the company, the exemption under Regulation 15(2)(a) of Chapter IV of SEBI (LODR) Regulations, 2015 applies because:

• The company’s equity capital is less than ₹10 crore.

• The company’s net worth is below ₹25 crore.

• It is listed on the SME Platform, which provides certain relaxations from routine corporate governance filings.

Hence, Regulation 27(2) — which mandates quarterly submission of corporate governance compliance reports — is not applicable to Radiowalla for Q1 FY26.

The filing was addressed to NSE and submitted on the company’s letterhead. It included references to the current and previous registered addresses, CIN, and official contact details. The company operates from its registered office at 16/A, Maratha Bhavan, Miller Tank Bund Road, Bangalore.

🏢 About Radiowalla Network Ltd

Radiowalla Network Ltd (formerly Radiowalla Network Pvt. Ltd.) is a niche audio content and radio streaming service provider, offering branded music, corporate podcasts, and digital content solutions for businesses.

Registered with CIN: U93090KA2010PLC183658, the company has a digital and content-driven business model. Despite being a listed entity, it remains small in scale and operates under the SME regulatory framework, which enables it to claim reduced compliance burdens.

Investors and analysts tracking SME stocks should note that such exemptions are standard regulatory relaxations and reflect the company's size, not any regulatory default or risk.

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