Tokyo Plast International Limited Compliance Review for Fiscal Year Ended March 31, 2026
Tokyo Plast International Limited's corporate compliance was reviewed for the financial year ended March 31, 2026, by the Practicing Company Secretary. The report covers the company's adherence to various corporate governance and listing requirements during the review period.The review assessed the company's statutory compliance, covering documentation, records, and filings related to the Securities and Exchange Board of India regulations.
Key Compliance Observations and Deviations
The compliance report highlighted several areas where the company was noted to have deviations from specified regulations and guidelines.A summary of the major deviations observed includes:
| Area of Non-Compliance | Specific Deviation | Details/Violation Noted |
|---|---|---|
| Board Meeting Financial Results | Delay in Publication/Submission | The listed entity had delayed publishing financial results in the regional language, although they were published in a regional language newspaper. |
| Insider Trading Window | Delay in Intimating Stock Exchange | The required closing of the trading window was mandated from April 1, 2025, until 48 hours after the publication of financial results. However, the intimation of this closure to the stock exchange was given on April 18, 2025, indicating a delay. |
| Promoter Shareholding | Shares Not in Demat Form | The shares held by Mr. Haresh Shah, promoter, were noted as not being in dematerialized form. |
| Insider Trading Disclosure | Non-Disclosure of Shares | The listed entity failed to make disclosures to the stock exchange under Regulation 7(2) of the SEBI (Prohibition of Insider Trading) Regulations, 2015, regarding 11,198 shares acquired by Priti Haresh Shah during the quarter of April–June 2025. |
| Corporate Governance | Vacancy of Company Secretary/Compliance Officer | A deviation was recorded concerning the failure to fill a vacancy created by the resignation of the Company Secretary and Compliance Officer within the required period of three months. |
| Board Composition | Loss of Independent Director Status | Following the cessation of Mr. Chimanlal Andrjibhai Kutchhi as Independent Director, the Board composition was reduced below half of the total number of independent directors until September 2024. |
Corporate Governance Updates and Remedial Actions
The report also detailed several changes related to the company's directorate and its steps to rectify past non-compliances.Director Changes:
The report records the cessation of Mr. Chimanlal Andrjibhai Kutchhi as an Independent Director, effective September 30, 2024. Subsequently, Mrs. Kinnari Sunny Charla (DIN: 10748676) was appointed as an Independent Director by the Board on September 2, 2024. The subsequent Annual General Meeting (AGM) held on September 1, 2024, was responsible for regularizing this appointment.
Remedial Actions Taken:
For previous compliance concerns, the report confirmed actions taken by the listed entity. This included:
- Outcome of Board Meeting: The Board Meeting Outcome for the quarter ended June 30, 2024, which did not contain the financial results, was subsequently revised and submitted on August 9, 2024.
- Director Resignation: Intimation of the cessation of Mr. Chimanlal Andrjibhai Kutchhi was submitted to the stock exchanges, which the Company Secretary noted.
Annual Compliance Status (FY 2026)
Regarding current compliance standing, the report stated the following:- Secretarial Standards: The listed entity was found to have prima facie complied with the applicable Secretarial Standards (SS) issued by the Institute of Company Secretaries of India (ICSI).
- Policies and Website: Policies were confirmed to be adopted and in conformity with SEBI requirements, and the company maintained a functional website.
- Subsidiaries: While the company confirmed it has no material subsidiary, it does operate one wholly owned subsidiary, Pinnacle Drinkware Private Limited.
The overall report confirms the professional examination of the company's records and regulatory adherence for the specified financial period.
TOKYOPLAST Stock Price Movement
Tokyo Plast International Limited shares today slipped by 2.76% to settle at ₹85.5, closing down ₹2.43. The stock finished within a day range of ₹83.55 to ₹87.45, trading on a volume of 2,776 shares.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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