Whalesbook
Chiraharit Limited has filed a Certificate of Non-Applicability for SEBI's Corporate Governance Report (Regulation 24A) for the financial year ending March 31, 2026. This filing confirms the company's exemption from these reporting requirements, a status granted due to its listing on the BSE SME platform.
Filing Details
The company officially confirmed its exemption from specific SEBI provisions, including Regulation 24A (Secretarial Audit/Compliance Report). Chiraharit cited its listing on the SME Platform of BSE Limited as the primary reason for this relief.
Why the Exemption Matters
Companies listed on SME exchanges often receive regulatory relaxations from SEBI to ease their compliance burden. This filing solidifies Chiraharit's position, clarifying that it is not subject to the extensive corporate governance reporting expected of mainboard-listed companies.
Company Background
Chiraharit Limited operates as an Engineering, Procurement, and Construction (EPC) company, focusing on water-based, renewable energy, and civil projects. Incorporated in 2006, the company recently completed its IPO and listed its shares on the BSE SME platform in October 2025, having converted to a public limited company in December 2024.
Compliance Impact
This confirmation means Chiraharit Limited will not need to submit the detailed annual secretarial compliance report under Regulation 24A for FY26. Consequently, the company benefits from reduced administrative and compliance costs associated with extensive governance reporting.
Identified Risks
The filing text did not include any specific risks or negative factors concerning Chiraharit Ltd's corporate governance history.
Similar Filings by Peers
Chiraharit is not alone in this; several other companies listed on SME exchanges have recently filed similar non-applicability certificates for SEBI Regulation 24A. These include SK International Export Ltd, iCodex Publishing Solutions Limited, and Siyaram Recycling Industries Ltd., all citing their SME listing status.
Governing Rules for SMEs
Companies listed on SME exchanges are exempt from certain SEBI Listing Obligations and Disclosure Requirements (LODR) Regulations, including Regulation 24A. This exemption typically applies to listed entities with paid-up equity share capital not exceeding ₹10 Crore and net worth not exceeding ₹25 Crore as of the previous financial year-end.
What to Watch For Next
Investors should monitor Chiraharit Ltd's financial metrics, such as paid-up capital and net worth, for any changes that might require full compliance. It will also be important to observe potential future shifts in SEBI regulations concerning SME-listed entities' governance reporting. Tracking the company's business growth and any future plans to migrate to the main board, which would necessitate stricter compliance, is also advised.