General information about company

Scrip Code*543917
NSE Symbol*SIGMA
MSEI SymbolNOTLISTED
ISININE0A0S01010
Name of the listed entitySIGMA SOLVE LIMITED
Date of start of financial year01-04-2024
Date of end of financial year31-03-2025
Date of Reporting to Exchange26-05-2025
Whether any observations reported by the Secretarial AuditorYes
The listed entity has maintained proper records under the provisions of the above Regulations and circulars/ guidelines issued thereunder insofar as it appears from my/our examination of those records.Yes
In previous, Any actions taken against the listed entity/its promoters/directors/its material subsidiaries either by SEBI or by stock exchanges (including under the Standard operating procedures issued by SEBI through various circulars).Yes
Is there any observation made in the previous reportYes
Name of the Certifying FirmMUKESH H SHAH AND CO
Name of the practicing Company Secretary issuing the reportMUKESH H SHAH
Membership TypeFCS
ACS/FCS No.5827
UDINF005827G000421583
CP No.2213
Place of PCSAHMEDABAD
PCS Report Date23-05-2025


Regulations

Sr NoRegulationApplicability during the period under review (Yes/No)Any Observation (Yes/No)
1Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015YesYes
2Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018NoNo
3Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011YesNo
4Securities and Exchange Board of India (Buyback of Securities) Regulations, 2018NoNo
5Securities and Exchange Board of India (Share Based Employee Benefits and Sweat Equity) Regulations, 2021NoNo
6Securities and Exchange Board of India (Issue and Listing of Non-Convertible Securities) Regulations, 2021NoNo
7Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015YesNo
8Specify any other regulation applicable to the Company
1The Depositories Act, 1996 (Deositories and Participation) Regulations, 2018YesNo


Current Report

Sr NoCompliance requirement (regulations/circulars/ guidelines including specific clauses)Regulation Name/ SEBI Circular numberRegulation Number/ circular datedDeviationsAction taken byName of Other Regulatory BodyType of Action (Advisory/Clarification/Fine/Show Cause Notice/ Warning, etc.)Details of other action takenDetails of violationFine AmountObservations/remarks of the practising Company Secretary, if anyManagement ResponseRemarks
1SEBI has in its Show Cause Notice alleged that, the Listed Entity was required to disclose in the offer document all material disclosures which are true and adequate so as to enable the applicants to take an informed investment decision. Further the listed entity was required to submit statement on quarterly basis on deviation in utilization of issue proceeds to the stock exchange and make disclosure of the same in Director’s Report.Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015a)       Reg. 245(1) of SEBI(ICDR)Reg., 2018 b) b) Reg. 32(1) r/w. Clause (b) of sub clause 4 of SEBI Circular No. CIR/CFD/CMD1.162/2019 dated December 24, 2019 c) 32(4) of SEBI(LODR)Reg., 2015 to the Company.The matter is pending with SEBISEBIOtherAction is not yet tkaneThe matter is pending with SEBIThe matter is pending with SEBIThe Management has appointed an Advocate and asked the SEBI for inspection of documents with respect to the SCN and also they sought for extension of time to furnish an appropriate reply to the notice.The Reply from the Company to the SCN is pending.


Previous Report

Sr NoCompliance requirement (regulations/circulars/ guidelines including specific clauses)Regulation Name/ SEBI Circular number*Regulation Number/ circular datedDeviationsActions taken byName of Other Regulatory BodyType of Action (Advisory/Clarification/Fine/Show Cause Notice/ Warning, etc.)Details of other action takenDetails of violationFine AmountObservations of the practicing Company secretary in the previous reportsObservations made in the secretarial compliance report for the year ended.(the years are to be mentioned)Comments of the practicing company secretary on the actions taken by the listed entity.Remedial actions, if any, taken by the listed entityManagement ResponseRemarks
1The Listed Entity shall appoint a qualified company secretary as the compliance officer. Further any vacancy in the office of the Compliance Officer shall be filled by the listed entity at the earliest and in any case not later than Six months from the date of such vacancy.Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 20156(1A)fineStock ExchangeFineThe Listed Entity has delayed the appointment of Company Secretary by 79 Days in December-2023 Quarter79000The Company has not appointed a CS to fill the Casual Vacancy till 14th October, 2023 viz. 6(Six) months from the date of such casual vacancy. However, Company has appointed CS w.e.f. 19th March, 2024.The Company has not appointed a CS to fill the Casual Vacancy till 14th October, 2023 viz. 6(Six) months from the date of such casual vacancy. However, Company has appointed CS w.e.f. 19th March, 2024.The Company has not appointed a CS to fill the Casual Vacancy till 14th October, 2023 viz. 6(Six) months from the date of such casual vacancy. However, Company has appointed CS w.e.f. 19th March, 2024.The Compnay had appoint CSThe Company was unable to find a suitable candidate within the prescribed time. The Company has paid the Fine imposed by NSE on 06th March, 2024. Further the Company has made a waiver request on 21st March, 2024 for the said Fine along with the Fine that may arise for the same non-compliance in March 2024 Quarter.
2The Listed Entity shall appoint a qualified company secretary as the compliance officer. Further any vacancy in the office of the Compliance Officer shall be filled by the listed entity at the earliest and in any case not later than Six months from the date of such vacancy.Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 20156(1A)FineStock ExchangeFineThe Listed Entity has delayed the appointment of Company Secretary by 79 Days in December-2023 Quarter79000The Company has not appointed a CS to fill the Casual Vacancy till 14th October, 2023 viz. 6(Six) months from the date of such casual vacancy. However, Company has appointed CS w.e.f. 19th March,2024The Company has not appointed a CS to fill the Casual Vacancy till 14th October, 2023 viz. 6(Six) months from the date of such casual vacancy. However, Company has appointed CS w.e.f. 19th March,2024The Company has not appointed a CS to fill the Casual Vacancy till 14th October, 2023 viz. 6(Six) months from the date of such casual vacancy. However, Company has appointed CS w.e.f. 19th March, 2024.The Company had appointed CSThe Company was unable to find a suitable candidate within the prescribed time. The Company has paid the Fine imposed by NSE on 06th March, 2024. Further the Company has made a waiver request on 21st March, 2024 for the said Fine along with the Fine that may arise for the same non-compliance in March 2024 Quarter.


Affirmation

Sr NoRegulationCompliance status (Yes/No/NA)Observations /Remarks by PCS*
1Secretarial Standards: The compliances of the listed entity are in accordance with the applicable Secretarial Standards (SS) issued by the Institute of Company Secretaries India (ICSI)Yes
2Adoption and timely updation of the Policies
(a)All applicable policies under SEBI Regulations are adopted with the approval of board of directors of the listed entitiesYes
(b)All the policies are in conformity with SEBI Regulations and has been reviewed & timely updated as per the regulations/circulars/guidelines issued by SEBIYes
3Maintenance and disclosures on Website
(a)The Listed entity is maintaining a functional websiteYes
(b)Timely dissemination of the documents/ information under a separate section on the websiteYes
(c)Web-links provided in annual corporate governance reports under Regulation 27(2) are accurate and specific which re-directs to the relevant document(s)/ section of the websiteYes
4Disqualification of Director: None of the Director of the Company are disqualified under Section 164 of Companies Act, 2013Yes
5Details related to Subsidiaries of listed entities: (a) Identification of material subsidiary companies (b) Requirements with respect to disclosure of material as well as other subsidiariesYes
6Preservation of Documents: The listed entity is preserving and maintaining records as prescribed under SEBI Regulations and disposal of records as per Policy of Preservation of Documents and Archival policy prescribed under SEBI LODR RegulationsYes
7Performance Evaluation: The listed entity has conducted performance evaluation of the Board, Independent Directors and the Committees at the start of every financial year as prescribed in SEBI RegulationsYes
8Related Party Transactions
(a)The listed entity has obtained prior approval of Audit Committee for all Related party transactionsYes
(b)In case no prior approval obtained, the listed entity shall provide detailed reasons along with confirmation whether the transactions were subsequently approved/ratified/rejected by the Audit committeeNAApproval obtained
9Disclosure of events or information: The listed entity has provided all the required disclosure(s) under Regulation 30 along with Schedule III of SEBI LODR Regulations within the time limits prescribed thereunderYesThe Company has generally disclosed all material events expect is some cases it has delayed in disclosure of Material Events
10Prohibition of Insider Trading: The listed entity is in compliance with Regulation 3(5) & 3(6) SEBI (Prohibition of Insider Trading) Regulations, 2015Yes
11Actions taken by SEBI or Stock Exchange(s), if any: No Actions taken against the listed entity/ its promoters/directors/ subsidiaries either by SEBI or by Stock Exchanges (including under the Standard Operating Procedures issued by SEBI through various circulars) under SEBI Regulations and circulars/ guidelines issued thereunder (or) The actions taken against the listed entity/ its promoters/ directors/ subsidiaries either by SEBI or by Stock Exchanges are specified in the last columnYesRefer Table (a) & (b) Above
12Resignation of statutory auditors from the listed entity or its material subsidiaries: In case of resignation of statutory auditor from the listed entity or any of its material subsidiaries during the financial year, the listed entity and / or its material subsidiary(is) has / have complied with paragraph 6.1 and 6.2 of section V-D of chapter V of the Master Circular on compliance with the provisions of the LODR Regulations by listed entitiesNAThere has been no changes in the Auditors during the Review Period.