Shree OSFM E-Mobility Limited, formerly known as Shree OSFM E-Mobility Private Limited, has officially communicated to the National Stock Exchange of India (NSE) that it is not required to submit the Annual Secretarial Compliance Report for the financial year ended March 31, 2025. This communication was made through an undertaking dated April 11, 2025, and signed by the company’s Managing Director, Mr. Ramnath Chandar Patil (DIN: 01877280).

The reason for this non-applicability lies in the provisions of Regulation 15(2) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. According to this regulation, listed entities whose securities are listed on the SME Exchange are exempted from the compliance requirements outlined in Regulations 17 to 27, clauses (b) to (i) of Sub-regulation (2) of Regulation 46, and Para C, D, and E of Schedule V. These regulations pertain primarily to corporate governance obligations, which include board composition, audit committees, stakeholder relationships, and compliance certifications.

As such, Shree OSFM E-Mobility Limited, being a company listed on the SME platform of the NSE, is not obligated to submit the Annual Secretarial Compliance Report under Regulation 24A of SEBI LODR Regulations, 2018. Regulation 24A mandates the submission of an annual compliance report from the secretarial auditor, which typically includes a detailed review of the company’s adherence to various statutory obligations and governance norms.

The company has proactively provided an official declaration of this exemption to the NSE, ensuring full transparency and regulatory clarity. The letter was addressed to the Listing Compliance Department of the National Stock Exchange, headquartered at Exchange Plaza, Bandra Kurla Complex, Mumbai.

This declaration showcases the company’s commitment to transparent communication and proper understanding of its obligations as per the current SEBI norms. The registered office of Shree OSFM E-Mobility is located at A-Wing, 104, Green Park, Plot No. 2 & 3, Sector 3, Opp. Ghansoli Railway Station, Ghansoli, Navi Mumbai – 400701. The company operates under CIN: L93090MH2006PLC166545 and is registered for GST under 27AAACO8879L1ZM.

This move also highlights a broader regulatory framework put in place by SEBI, where SME-listed companies are given regulatory relief in comparison to their mainboard counterparts. The idea behind this relief is to reduce the compliance burden on small and medium enterprises, helping them grow and operate without the stringent requirements placed on larger, more resourceful entities.

Corporate governance regulations are critical for large-cap and mid-cap companies to maintain investor trust and market discipline, but for SME-listed companies like Shree OSFM E-Mobility Ltd., SEBI has created a balanced compliance structure that facilitates easier operational flow without compromising regulatory supervision.

This communication by Shree OSFM is not just a routine declaration, but also a reflection of responsible corporate behavior, where even exemptions are duly communicated to stakeholders. This instills confidence in investors and regulators alike that the company is actively monitoring and adhering to relevant regulations.

Moving forward, unless there is a change in the company's listing status, such as an uplisting to the mainboard, the exemption under Regulation 15(2) will continue to apply. Should such a transition occur in the future, the company would then be required to comply with the full spectrum of corporate governance norms, including the submission of the Annual Secretarial Compliance Report under Regulation 24A.

In conclusion, Shree OSFM E-Mobility Ltd.’s declaration regarding the non-applicability of the Annual Compliance Report for FY2025 underlines its transparent governance practices. It further strengthens its position as a compliant SME-listed company, maintaining clear and open lines of communication with regulatory bodies and market participants.

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