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Terraform Realstate: Non-Applicability Of Regulation 23(9) Of The SEBI (Listing Obligations And Disclosure Requirements) Regulation 2015


Pursuant to Regulation 15(2) of the Listing Regulations the compliance with the Corporate Governance provisions as specified from Regulations 17 to 27 and Clauses (b) to (i) and (t) of sub-regulation (2) of Regulation 46 and Para C D and E of Schedule V shall not be applicable in respect of the Listed Entity having paid-up equity share capital not exceeding Rs. 10 Crore and net worth not exceeding Rs. 25 Crore as on the last day of the previous financial year.

As per the latest Audited Accounts as at March 31 2021 the paid up equity share capital of the Company is Rs. 50 Lakhs and net worth is Rs. 59.36 lakhs which is below the threshold limit as specified under the said regulation.

Therefore provision of Reg. 23(9) of the SEBI ( LODR) Regulations 2015 as amended are not applicable to our Company. Hence the Company is not required to submit Disclosure of Related Party Transactions for the half year ended September 30 2021.

You are requested to take same on your record.

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