S.A.L. Steel Limited — Important, 18-03-2025: Updates

The Board of Directors of SAL Steel has addressed fines levied by the stock exchanges due to non-compliance with regulatory requirements. The company was penalized for failing to appoint a qualified Company Secretary and Compliance Officer, which has resulted in ongoing daily fines. The Board acknowledged the delays in fulfilling this requirement and emphasized the challenges in recruitment due to a shortage of qualified professionals. They announced the appointment of Mrs. Radhika P. Soni as the new Company Secretary and Compliance Officer, effective immediately. The Board is strengthening compliance processes to prevent future infractions and aims to maintain high standards of corporate governance, which could positively impact investor confidence moving forward.