This is to inform you that our Company was listed in the BSE since 2007 and has been managing with a qualified Company Secretary as Compliance Officer under Reg. 6(1) of SEBI (LODR) Regulations, 2015 continuously till May, 2017.
Our main business activity is power generation and you may be aware the industry is in great stress. Our long pending receivables are held up with Electricity Department, A & N Administration, A & N Islands against supply of power and the matter is under litigation. We have Power Purchase Agreement with the Electricity Department, A & N Administration for 15 years is also expired on 31.03.2018. As on today we have no other business, as the Company is facing problems with the Bankers also.
Due to financial crisis, the Company could not pay the salaries regularly to the employees and key managerial personnel. So, the Company Secretary discontinued his services and left the Company. We are searching for a qualified Company Secretary through naukari.com dated 21.11.2017 and also wrote to the local Chapter.
At present, we are availing the services from Practicing Company Secretaries and our experienced Secretarial Team. The Company is unable to attract/receive applications from qualified Company Secretaries.
In view of the present situation/financial crisis, we request you to exempt the Company for appointment of Company Secretary as Compliance Officer under Reg. 6(1) SEBI (LORD) Regulation 2015 for a period of one year only. Till now we are complying all the compliances as per the SEBI (LODR) Regulations.