MAM
Vision Cinemas claims SEBI exemption from corporate governance filings
Company cites low capital and net worth to skip quarterly compliance report
MUMBAI: Vision Cinemas Limited has informed the Bombay Stock Exchange that it qualifies for exemption from filing its quarterly corporate governance report and annual secretarial compliance report, citing its financial thresholds under regulatory norms.
In a communication dated April 11, the company stated that its paid-up share capital and net worth fall below the limits prescribed by the Securities and Exchange Board of India under Regulation 15(2)(a) of the Listing Obligations and Disclosure Requirements Regulations, 2015.
As per the filing, Vision Cinemas reported a paid-up share capital of Rs 7.89 crore and a net worth of Rs 15.34 crore for the financial year ended March 31, 2025. These figures place the company below the regulatory thresholds of Rs 10 crore in paid-up capital and Rs 25 crore in net worth, making certain compliance requirements non-mandatory.
The exemption covers the quarterly corporate governance report under Regulation 27(2), as well as the annual secretarial compliance report, which are typically required for larger listed entities.
The company’s managing director Bindiganavale Rangavasanth confirmed the exemption in the filing, noting that the company meets the criteria laid out under the applicable SEBI regulations.
Financial details supporting the claim were certified by Manoj Acharya and Associates, which verified that the company’s capital and net worth have remained within the prescribed limits over recent financial years.
The provision is aimed at easing compliance for smaller listed companies, allowing them to focus on operations while maintaining essential disclosures. For Vision Cinemas, the exemption offers regulatory breathing room as it continues to operate within a relatively modest financial scale.
