Zodiac Clothing Company Limited — Important, 24-03-2025: General Updates

Zodiac Clothing Company Ltd. has disclosed an order received from both the National Stock Exchange and BSE regarding non-compliance with SEBI regulations concerning the appointment of Mr. Dilip Thakkar as a Non-Executive, Independent Director without the required special resolution due to his age of 87. The financial implication from this violation is Rs. 3.06 lakh (cr), including GST. The company expressed regret over the delay in announcing this issue, attributing it to oversight, and confirmed its commitment to ongoing compliance. This development may raise concerns among investors regarding governance processes, although it indicates a proactive stance toward regulatory adherence.