Yunik Managing Advisors Ltd — Updates, 30-05-2025: Company Update
May 30, 2025
To
BSE Limited
Phiroze Jeejeebhoy Towers,
Dalal Street, Fort,
Mumbai -400 001
• Limited Yunlk Managing Advisors ..
(Formerly known as Essar securities
Limited)
Essar House, 11, K. K. Marg,
Mahalaxmi, Mumbai-400 o34
CIN: L70200TN2005PLC07l791
E:yunikmanaging123@gmail.com
Sub: Annual Secretarial Compliance Report pursuant to Regulation 24A of the Securities
and Exchange Board of India (Listing Obligations and Disclosure Requirements)
Regulations, 2015.
Ref: Scrip Code No. 533149
Dear Sir,
Pursuant to Regulation 24A of Securities and Exchange Board of India (Listing Obligations and
Disclosure Requirements) Regulation, 2015, read with SEBI Circular No.
CIR/CFD/CMDl/27/2019 dated February 8, 2019, please find enclosed herewith Annual
Secretarial Compliance Report of the Company for the financial year ended March 31, 2025,
issued by M/s. Mayank Arora & Co. Practicing Company Secretaries.
Request you to kindly take the same on your record.
Thanking you.
Yours faithfully,
For Yunik Managing Advisors Limited
(formerly known as Essar Securities Limited)
i~ah
Authorised Signatory
Regd. Off. Add.: New No. 77/56, C. P. Ramaswamy Road, Abhirampuram, Chennai-600 Ol8 r +9144 2499 5340
----------------Page (0) Break----------------
To,
The Board of Directors
YUNIK MANAGING ADVISORS LIMITED
New No. 77/56, C. P. Ramaswamy Road
Abhiramapuram, Chennai, Tamil Nadu, India, 600018
We have been engaged by Yunik Managing Advisors Limited (hereinafter referred to as 'the Company')
whose equity shares are listed on the BSE Limited (Scrip Code: 533149) to conduct an audit in terms of
Regulation 24A of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 as
amended, read with SEBI’s Circular No. CIR/CFD/CMD1/27/2019 dated February 08, 2019 and to issue
Annual Secretarial Compliance Report thereon.
It is the responsibility of the management of the Company to maintain records, devise proper systems to
ensure compliance of the provisions of the Securities and Exchange Board of India Act, 1992 (“SEBI Act”),
the Securities Contracts (Regulation) Act, 1956 (“SCRA”), and all applicable Rules, Regulations and
circulars/ guidelines issued there under from time to time and to ensure that the systems are adequate
and are operating effectively.
Our responsibility is to verify compliances by the Company with provisions of all SEBI Act, SCRA and all
applicable Rules, Regulations and circulars/ guidelines issued there under from time to time and issue a
report thereon. This is neither an audit nor an expression of opinion.
Our audit was conducted in accordance with Guidance Note on Annual Secretarial Compliance Report
issued by the Institute of Company Secretaries of India and in a manner which involved such
examinations and verifications as considered necessary and adequate for the said purpose.
We have not verified the correctness and appropriateness of financial Records and Books of Accounts of
the listed entity.
This Report is solely for the intended purpose of compliance in terms of Regulation 24A (2) of the SEBI
(Listing Obligations and Disclosure Requirements) Regulations, 2015 and is neither an assurance as to the
future viability of the listed entity nor of the efficacy or effectiveness with which the management has
conducted the affairs of the listed entity.
Annual Secretarial Compliance Report in the format prescribed is enclosed herewith.
For Mayank Arora & Co.
Company Secretaries
Mayank Arora
Partner
CP No: 13609
M No : F10378
PR No.: 5923/2024
UDIN: F010378G000501231
Place: Mumbai
Dated: 30/05/2025
----------------Page (1) Break----------------
Secretarial Compliance Report of
Yunik Managing Advisors Limited for the year ended
March 31, 2025
[Under regulation 24A of the SEBI (Listing Obligations and
Disclosure Requirements) Regulations, 2015]
We have examined:
(a) all the documents and records made available to us and explanation provided
by Yunik Managing Advisors Limited (“the listed entity”),
(b) the filings/ submissions made by the listed entity to the stock exchanges,
(c) website of the listed entity,
(d) any other document/ filing, as may be relevant, which has been relied upon
to make this certification, for the year ended on March 31, 2025 (“Review
Period”) in respect of compliance with the provisions of:
a. the Securities and Exchange Board of India Act, 1992 (“SEBI Act”)
and the Regulations, circulars, guidelines issued there-under; and
b. the Securities Contracts (Regulation) Act, 1956 (“SCRA”), rules made
there-under and the Regulations, circulars, guidelines issued there-
under by the Securities and Exchange Board of India (“SEBI”);
The specific Regulations, whose provisions and the circulars/ guidelines issued
thereunder, have been examined, include:
(a) Securities and Exchange Board of India (Listing Obligations and Disclosure
Requirements) Regulations, 2015;
(b) Securities and Exchange Board of India (Issue of Capital and Disclosure
Requirements) Regulations, 2018;
(c) Securities and Exchange Board of India (Substantial Acquisition of Shares
and Takeovers) Regulations, 2011;
(d) Securities and Exchange Board of India (Buyback of Securities) Regulations,
2018; Not applicable as there was no reportable event during the review
period
(e) Securities and Exchange Board of India (Share Based Employee Benefits
and Sweat Equity) Regulations, 2021; Not applicable as there was no
reportable event during the review period
(f) The Securities and Exchange Board of India (Issue and Listing of Non-
Convertible Securities) Regulations, 2021 Not applicable as there was no
reportable event during the review period
(g) Securities and Exchange Board of India (Prohibition of Insider Trading)
Regulations, 2015
(h) Securities and Exchange Board of India (Issue and Listing of Non-Convertible
and Redeemable Preference Shares) Regulations, 2013; Not applicable as
there was no reportable event during the review period;
(i) Securities and Exchange Board of India (Depositories and Participants)
Regulations, 1996 and Securities and Exchange Board of India (Depositories
and Participants) Regulations, 2018;
and circulars/guidelines issued there-under;
----------------Page (2) Break----------------
and based on the above examination, we hereby report that during the Review Period:
(a) The listed entity has complied with the provisions of the above Regulations and
circulars/guidelines issued thereunder except in respect of matters specified below:
Sr.
No
.
Compliance Requirement
(Regulations/ circulars/
guidelines Including Specific
clause)
Regulation/
Circular No.
Deviations Actio
n
Take
n by
Type
of
Actio
n
Details of
Violation
Fine
Amou
nt
Observations/
Remarks of
the Practicing
Company
Secretary
Managem
ent
Response
Re-
mark
s
1. As per Regulation 17(1)(a) of
SEBI (Listing Obligations and
Disclosures Requirements)
Regulation, 2015, Board of
Directors shall have an optimum
combination of Executive and
Non- Executive Directors (NED)
with at least one Woman
Director and not less than 50% of
the Board of Directors shall
comprise of Non- Executive
Directors.
Regulation
17(1)(a) of SEBI
(Listing
Obligations and
Disclosures
Requirements)
Regulation, 2015,
There is no Executive
Director on the Board
during the year
under review.
- - There is no
Executive Director
on the Board
during the year
under review.
- The Company
is yet to
appoint the
Executive
Director on
the Board.
The
Company
is under
process of
appointin
g the right
candidate
for the
directorshi
p.
-
----------------Page (3) Break----------------
2. As per Regulation 6(1)A of SEBI
(Listing Obligations and
Disclosures Requirements)
Regulation, 2015, any vacancy in
the office of the Compliance
Officer shall be filled by the
listed entity at the earliest and in
any case not later than three
months from the date of such
vacancy
Regulation 6(1)A
of SEBI (Listing
Obligations and
Disclosures
Requirements)
Regulation, 2015,
Non-compliance with
requirement to
appoint a qualified
company secretary as
the compliance
officer
- - Delay in
complying with the
requirement to
appoint the
Company
Secretary of not
later than three
months from the
date of such
vacancy.
- Non-
compliance
with
requirement
to appoint a
qualified
company
secretary as
the
compliance
officer
The delay
was due to
challenges
in finding
a suitable
Candidate
as well as
non-
operations
of the
Company.
However,
Mr. Sagar
Shah, has
been
appointed
effective
02nd May
2025
-
3. The Chief Executive Officer and
Chief Financial Officer of the
listed entity shall certify that the
financial results do not contain
any false or misleading statement
or figures and do not omit any
material fact which may make
the statements or figures
contained therein misleading.
Also, as per Regulation 17(8)
SEBI (Listing Obligations and
Disclosures Requirements)
Regulation, 2015, No compliance
certificate was provided to the
board of directors as specified in
Part B of Schedule II.
Also no disclosures in Annual
Report as specified in Schedule V
Regulation 17(8)
and 33 (2)(a),
27(2)(c) and
Schedule V as
mentioned
Regulation 34(3)
of SEBI (Listing
Obligations and
Disclosures
Requirements)
Regulation, 2015,
No CEO or CFO was
appointed during the
year.
Also, as per
Regulation 17(8), No
compliance
Certificate was
provided to the
board of directors as
specified in Part B of
Schedule II.
Also the quarterly
compliance report on
Corporate
Governance for the
March Quarter was
not signed by
Compliance Officer
- - No CEO or CFO
was appointed
during the year.
Also, as per
Regulation 17(8),
No compliance
Certificate was
provided to the
board of directors
as specified in Part
B of Schedule II.
Also the quarterly
compliance report
on Corporate
Governance for the
March Quarter was
not signed by
Compliance Officer
- Henceforth,
the Company
should ensure
compliance
with
regulatory
requirement.
The
Company
would be
complying
with the
same in
the forth-
coming
years.
-
----------------Page (4) Break----------------
as mentioned Regulation 34(3) of
SEBI (Listing Obligations and
Disclosures Requirements)
Regulation, 2015 was disclosed.
or the Chief
Executive Officer of
the listed entity.
Also no declaration
signed by the Chief
Executive Officer
stating that the
members of board of
directors and senior
management
personnel have
affirmed compliance
with the code of
conduct of board of
directors and senior
management.
or the Chief
Executive Officer
of the listed entity.
Also no declaration
signed by the Chief
Executive Officer
stating that the
members of board
of directors and
senior
management
personnel have
affirmed
compliance with
the code of conduct
of board of
directors and
senior
management.
4. The promoter of every target
company shall declare on a
yearly basis that he, along with
persons acting in concert, has not
made any encumbrance, directly
or indirectly, other than those
already disclosed during the
financial year within seven
working days from the end of
each financial year to every stock
exchange where the shares of the
target company are listed.
Regulation 31(4)
SEBI (Substantial
Acquisition of
Shares and
Takeovers)
Regulations,
2011.
The promoter of the
listed entity has not
disclosed details of
shares in
listed entity
encumbered by him
or by persons acting
in concert with him
in such form as
specified.
- - The promoter of
the listed entity has
not disclosed
details of shares in
listed entity
encumbered by
him or by persons
acting in concert
with him in such
form as specified.
- The promoter
of the listed
entity has not
disclosed
details of
shares in
listed entity
encumbered
by him or by
persons acting
in concert
with him in
such form as
specified
The
Company
would be
complying
with the
said
regulation
s in the
future.
-
----------------Page (5) Break----------------
5. Disclosure of necessary details in
case of Resignation of Key
Managerial Personnel as
mentioned in Regulation 30 read
with Schedule III Part A 7(C) of
SEBI (Listing Obligations and
Disclosures Requirements)
Regulation, 2015.
Regulation
30 read with
Schedule III Part
A 7(C) of SEBI
(Listing
Obligations and
Disclosures
Requirements)
Regulation, 2015.
No resignation letter
with detailed reasons
for resignation was
intimated by Mr.
Brijgopal Kankani to
the stock exchange.
- - No resignation
letter with detailed
reasons for
resignation was
intimated by Mr.
Brijgopal Kankani
to the stock
exchange.
- No
resignation
letter with
detailed
reasons for
resignation
was intimated
by Mr.
Brijgopal
Kankani to the
stock
exchange.
The
Company
had
inadvertan
tly missed
to file the
same.
-
6. Para (D) of Section III-A of
Chapter III of SEBI Master
Circular No.
SEBI/HO/CFD/PoD2/CIR/P/2
023/120 dated July 11,2023
(erstwhile SEBI Circular
No.CIR/CFD/CMD/ 56/2016
dated May27, 2016) regarding
“Disclosure of the Impact of
Audit Qualifications by listed
entities”
SEBI Master
Circular No.
SEBI/HO/CFD/
PoD2/CIR/P/20
23/120 dated
July 11,2023
Non submission of
Statement on Impact
of Audit
Qualifications or
Declaration of
unmodified audit
report in XBRL for
the year ended March
31, 2024.
- - The XBRL utility
was required to be
filed along with the
financial results;
however, the
company failed to
file the same.
- The XBRL
utility was
required to be
filed along
with the
financial
results;
however, the
company
failed to file
the same.
The
Company
will take
care of the
same in
future and
will
comply
the same.
-
----------------Page (6) Break----------------
7. The disclosures made by the
listed entity to the stock
exchanges shall be in XBRL
format in accordance with the
guidelines specified by the stock
exchanges from time to time.
Regulation 36(4)
of SEBI LODR ,
and BSE and NSE
had vide their
circulars dt:
January 27, 2023
Non-filing of XBRL
for Appointment of
Mr. Brijgopal
Kankani as the
Company Secretary
and Compliance
Officer.
- - Non-filing of XBRL
for Appointment of
Mr. Brijgopal
Kankani as the
Company
Secretary and
Compliance
Officer.
- The Company
has failed to
upload XBRL
for the Mr.
Brijgopal
Kankani as the
Company
Secretary and
Compliance
Officer.
The
Company
will take
care of the
same in
future and
will
comply
the same.
-
(b) The listed entity has taken the following actions to comply with the observations made in previous reports
Sr
no.
Observations/
Remarks of the
Practicing
Company
Secretary in
the previous
reports (PCS)
Observations made in
the secretarial
compliance report for the
year ended 31st March, 2024
Compliance Requirement
(Regulations/circulars/guidelines
including
specific clause)
Details of violation /
deviations and actions
taken / penalty
imposed, if any, on
the
listed entity
Remedial
actions, if
any, taken
by the
listed entity
Comments
of
the PCS
on
the actions
taken by
the
listed
entity
1. The Listed entity is yet to
appoint any Executive
Director on the Board.
No Executive Director on the
Board during the year under
review.
Board of Directors shall have an
Optimum combination of
executive and Non-Executive
Director (NED) with at least one
Woman Director and not less
than 50% of the BOD shall
comprise of NED's.
No Executive Director
on the Board during
the year under review.
The Company will
ensure compliance
of the same in
Succeeding years.
-
2. Henceforth, the
Company should ensure
No CEO or CFO was
appointed during the year.
The chief executive officer and
chief financial officer of the listed
No CEO or CFO was
appointed during the
The Company will
ensure compliance
-
----------------Page (7) Break----------------
compliance with
regulatory requirement.
Also, as per Regulation 17(8),
No compliance Certificate was
provided to the board of
directors as specified in Part B
of Schedule II.
Also the quarterly compliance
report on corporate
governance for the March
Quarter was not signed by
compliance officer or the chief
executive officer of the listed
entity.
Also no declaration signed by
the chief executive officer
stating that the members of
board of directors and senior
management personnel have
affirmed compliance with the
code of conduct of
board of directors and senior
management.
entity shall certify that the
financial results do not contain
any false or misleading statement
or figures and do not omit any
material fact which may make the
statements or figures contained
therein misleading.
Also, as per Regulation 17(8), No
compliance certificate was
provided to the board of directors
as specified in Part B of Schedule
II.
Also No disclosures in Annual
Report as specified in Schedule V
as mentioned Regulation 34(3) of
SEBI (LODR), 2015 was disclosed.
year.
Also, as per Regulation
17(8), No compliance
Certificate was
provided to the board
of directors as
specified in Part B of
Schedule II.
Also the quarterly
compliance report on
corporate governance
for the March Quarter
was not signed by
compliance officer or
the chief executive
officer of the listed
entity.
Also no declaration
signed by the chief
executive officer
stating that the
members of board of
directors and senior
management
personnel have
affirmed compliance
with the code of
conduct of
board of directors and
senior management.
of the same in
Succeeding years.
3. Henceforth, the Company
should ensure compliance
with regulatory
requirement.
The listed entity has not made
disclosure to stock exchange of
Amendments to Articles of
Association in brief.
Disclosures of events or
information as specified in Part A
of the Schedule III as mentioned
Regulation 30 of SEBI (LODR),
2015.
The listed entity has
not made disclosure to
stock exchange of
Amendments to
Articles of Association
in brief.
The Company will
ensure compliance
of the same in
Succeeding years.
-
----------------Page (8) Break----------------
4. Henceforth, the Company
should ensure compliance
with regulatory
requirement.
The listed entity, has not
included a certificate from a
Practicing Chartered
Accountant stating compliance
with conditions
provided in sub regulation
45(1) in the explanatory
statement to the notice seeking
shareholders’ approval for
change in name.
Upon compliance with the
conditions for change of name
laid down in Companies Act,
2013 and rules made thereunder,
the listed entity, in the
explanatory statement to the
notice seeking shareholders’
approval for change in name,
shall include a Certificate from a
practicing chartered accountant
stating compliance with
conditions provided in
Regulation 45 (1) as mentioned in
Regulation 45(3)) of SEBI (LODR),
2015
The listed entity, has
not included a
certificate from a
Practicing Chartered
Accountant stating
compliance with
conditions provided in
sub regulation 45(1) in
the explanatory
statement to the notice
seeking shareholders’
approval for change in
name.
The certificate was
acquired from
Practicing Chartered
Accountant,
however, the
omission of
certificate from the
explanatory
statement to the
notice occurred as a
result of human
error.
-
5. Henceforth, the Company
should ensure compliance
with regulatory
requirement.
The promoter of the listed
entity has not disclosed details
of shares in listed entity
encumbered by him or by
person acting in concert with
him in such form as specified.
Disclosure of encumbered shares
as mentioned in Regulation 31(4)
of SEBI (Substantial Acquisition
of Shares and Takeovers) (Second
Amendments) Regulations, 2019.
The promoter of the
listed entity has not
disclosed details of
shares in listed entity
encumbered by him or
by person acting in
concert with him in
such form as specified.
The Promoter is
under RP, therefore
the disclosure was
not submitted.
-
Note:
1. Provide the list of all the observations in the report for the previous year along with the actions
taken by the listed entity on those observations.
2. Add the list of all observations in the reports pertaining to the periods prior to the previous year
in case the entity has not taken sufficient steps to address the concerns raised/ observations.
----------------Page (9) Break----------------
(c) During the Review Period the compliance status of the listed entity is appended as below:
Sr.
No.
Particulars Compliance
Status (Yes/
No/NA)
Observations
/Remarks by PCS
1 Secretarial Standards:
The compliances of the listed entity are in accordance with the applicable Secretarial Standards (SS) issued
by the Institute of Company Secretaries India (ICSI), as notified by the Central Government under section 118
(10) of the Companies Act, 2013 and mandatorily applicable
Yes
Nil
2 Adoption and timely updating of the Policies:
• All applicable policies under SEBI Regulations are adopted with the approval of board of directors of
the listed entities
• All the policies are in conformity with SEBI Regulations and have been reviewed & updated on time,
as per the regulations/
circulars/guidelines issued by SEBI
Yes
Nil
3 Maintenance and disclosures on Website:
• The Listed entity is maintaining a functional website
• Timely dissemination of the documents/ information under a separate section on the website
• Web-links provided in annual corporate governance reports under Regulation 27(2) are accurate and
specific which re-directs to the relevant document(s)/section of the website
Yes
Nil
4 Disqualification of Director:
None of the Director(s)of the Company is/ are disqualified under Section 164 of Companies Act, 2013 as
confirmed by the listed entity.
Yes
Nil
5 Details related to Subsidiaries of listed entities have been examined w.r.t.:
(a) Identification of material subsidiary companies
(b) Disclosure requirement of material as well as other subsidiaries
Yes
Nil
----------------Page (10) Break----------------
6 Preservation of Documents:
The listed entity is preserving and maintaining records as prescribed under SEBI Regulations and disposal
of records as per Policy of Preservation of Documents and Archival policy prescribed under SEBI LODR
Regulations, 2015.
Yes
Nil
7 Performance Evaluation:
The listed entity has conducted performance evaluation of the Board, Independent Directors and the
Committees at the start of every financial year/during the financial year as prescribed in SEBI Regulations.
Yes
Nil
8 Related Party Transactions:
(a) The listed entity has obtained prior approval of Audit Committee for all related party transactions; or
(b) The listed entity has provided detailed reasons along with confirmation whether the transactions were
subsequently approved/ratified/rejected by the Audit Committee, in case no prior approval has been
obtained.
Yes Nil
9 Disclosure of events or information:
The listed entity has provided all the required disclosure(s) under Regulation 30 along with Schedule III of
SEBI LODR Regulations, 2015 within the time limits prescribed thereunder.
Yes
Nil
10
Prohibition of Insider Trading:
The listed entity is in compliance with Regulation 3(5) & 3(6) SEBI (Prohibition of Insider Trading)
Regulations,2015.
Yes Nil
11 Actions taken by SEBI or Stock Exchange(s), if any:
No action(s) has been taken against the listed entity/its promoters/directors/subsidiaries either by SEBI orby
Stock Exchanges (including under the Standard Operating Procedures issued by SEBI through various
circulars) under SEBI Regulations and circulars/guidelines issued there under
Yes
NIL
----------------Page (11) Break----------------
12 Resignation of statutory auditors from the listed entity or its material subsidiaries
In case of resignation of statutory auditor from the listed entity or any of its material subsidiaries during
the financial year, the listed entity and / or its material subsidiary(ies) has / have complied with paragraph
6.1 and 6.2 of section V-D of chapter V of the Master Circular on compliance with the provisions of the
LODR Regulations by listed entities.
Yes
NIL
13 No additional non-compliances observed:
No additional non-compliance observed for any of the SEBI
regulation/circular/guidance note etc. except as reported above.
Yes NIL
(d) Compliances related to resignation of statutory auditors from listed entities and their material subsidiaries as per SEBI Circular
CIR/CFD/CMD1/114/2019 dated October 18, 2019
Sr. No. Sr. No. Particulars Compliance
Status (Yes/No/
NA)
Observations
/Remarks by
PCS
1. Compliances with the following conditions while appointing/re-appointing an auditor
i. If the auditor has resigned within 45 days from the end of
a quarter of a financial year, the auditor before such
resignation, has issued the limited review/ audit report for
such quarter; or
ii. If the auditor has resigned after 45 days from the end of
a quarter of a financial year, the auditor before such
resignation, has issued the limited review/ audit report for
such quarter as well as the next quarter; or
iii. If the auditor has signed the limited review/ audit
report for the first three quarters of a financial year, the
auditor before such resignation, has issued the limited
review/ audit report for the last
NA Not Applicable during the year under review.
----------------Page (12) Break----------------
quarter of such financial year as well as the audit report for
such financial year.
2. Other conditions relating to resignation of statutory auditor
i. Reporting of concerns by Auditor with respect to the
listed entity/its material subsidiary to the Audit
Committee:
a. In case of any concern with the
management of the listed entity/material subsidiary such
as non-availability of information / non-cooperation by the
management which has hampered the audit process, the
auditor has approached the Chairman of the Audit
Committee of the listed entity and the Audit Committee
shall receive such concern directly and immediately
without specifically waiting for the quarterly Audit
Committee meetings.
b. In case the auditor proposes to resign, all concerns with
respect to the proposed resignation, along with relevant
documents has been brought to the notice of the Audit
Committee. In cases where the proposed resignation is due
to non-receipt of information / explanation from the
company, the auditor has informed the Audit Committee
the details of information/ explanation sought and not
provided by the management, as applicable.
c. The Audit Committee / Board of Directors, as the case
may be, deliberated on the matter on receipt of such
information from the auditor relating to the proposal to
resign as mentioned above and communicate its views to
the management and the auditor.
ii. Disclaimer in case of non-receipt of information:
The auditor has provided an appropriate disclaimer in its
audit report, which is in accordance with the Standards of
NA Not Applicable during the year under review.
----------------Page (13) Break----------------
Auditing as specified by ICAI / NFRA, in case where the
listed
entity/ its material subsidiary has not provided
information as required by the auditor.
3. The listed entity / its material subsidiary has obtained
information from the Auditor upon resignation, in the
format as specified in Annexure- A in SEBI Circular CIR/
CFD/ CMD1/ 114/2019 dated 18th October, 2019.
NA Not Applicable during the year under review
----------------Page (14) Break----------------
Assumptions & Limitation of scope and Review:
1. Compliance of the applicable laws and ensuring the authenticity of documents and information furnished, are the responsibilities of the management
of the listed entity.
2. Our responsibility is to report based upon our examination of relevant documents and information. This is neither an audit nor an expression of
opinion.
3. We have not verified the correctness and appropriateness of financial Records and Books of Accounts of the listed entity.
4. This Report is solely for the Intended purpose of compliance in terms of Regulation 24A (2) of the SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015 and is neither an assurance as to the future viability of the listed entity nor of the efficacy or effectiveness with which
the management has conducted the affairs of the listed entity.
Thanking You,
For Mayank Arora & Co.
Company Secretaries
Mayank Arora
Partner
CP No: 13609
M No : F10378
PR No.: 5923/2024
UDIN: F010378G000501231
Place: Mumbai
Dated: 30/05/2025
----------------Page (15) Break----------------
To,
The Board of Directors
YUNIK MANAGING ADVISORS LIMITED
New No. 77/56, C. P. Ramaswamy Road
Abhiramapuram, Chennai, Tamil Nadu, India, 600018
We have been engaged by Yunik Managing Advisors Limited (hereinafter referred to as 'the Company')
whose equity shares are listed on the BSE Limited (Scrip Code: 533149) to conduct an audit in terms of
Regulation 24A of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 as
amended, read with SEBI’s Circular No. CIR/CFD/CMD1/27/2019 dated February 08, 2019 and to issue
Annual Secretarial Compliance Report thereon.
It is the responsibility of the management of the Company to maintain records, devise proper systems to
ensure compliance of the provisions of the Securities and Exchange Board of India Act, 1992 (“SEBI Act”),
the Securities Contracts (Regulation) Act, 1956 (“SCRA”), and all applicable Rules, Regulations and
circulars/ guidelines issued there under from time to time and to ensure that the systems are adequate
and are operating effectively.
Our responsibility is to verify compliances by the Company with provisions of all SEBI Act, SCRA and all
applicable Rules, Regulations and circulars/ guidelines issued there under from time to time and issue a
report thereon. This is neither an audit nor an expression of opinion.
Our audit was conducted in accordance with Guidance Note on Annual Secretarial Compliance Report
issued by the Institute of Company Secretaries of India and in a manner which involved such
examinations and verifications as considered necessary and adequate for the said purpose.
We have not verified the correctness and appropriateness of financial Records and Books of Accounts of
the listed entity.
This Report is solely for the intended purpose of compliance in terms of Regulation 24A (2) of the SEBI
(Listing Obligations and Disclosure Requirements) Regulations, 2015 and is neither an assurance as to the
future viability of the listed entity nor of the efficacy or effectiveness with which the management has
conducted the affairs of the listed entity.
Annual Secretarial Compliance Report in the format prescribed is enclosed herewith.
For Mayank Arora & Co.
Company Secretaries
Mayank Arora
Partner
CP No: 13609
M No : F10378
PR No.: 5923/2024
UDIN: F010378G000501231
Place: Mumbai
Dated: 30/05/2025
----------------Page (16) Break----------------
Secretarial Compliance Report of
Yunik Managing Advisors Limited for the year ended
March 31, 2025
[Under regulation 24A of the SEBI (Listing Obligations and
Disclosure Requirements) Regulations, 2015]
We have examined:
(a) all the documents and records made available to us and explanation provided
by Yunik Managing Advisors Limited (“the listed entity”),
(b) the filings/ submissions made by the listed entity to the stock exchanges,
(c) website of the listed entity,
(d) any other document/ filing, as may be relevant, which has been relied upon
to make this certification, for the year ended on March 31, 2025 (“Review
Period”) in respect of compliance with the provisions of:
a. the Securities and Exchange Board of India Act, 1992 (“SEBI Act”)
and the Regulations, circulars, guidelines issued there-under; and
b. the Securities Contracts (Regulation) Act, 1956 (“SCRA”), rules made
there-under and the Regulations, circulars, guidelines issued there-
under by the Securities and Exchange Board of India (“SEBI”);
The specific Regulations, whose provisions and the circulars/ guidelines issued
thereunder, have been examined, include:
(a) Securities and Exchange Board of India (Listing Obligations and Disclosure
Requirements) Regulations, 2015;
(b) Securities and Exchange Board of India (Issue of Capital and Disclosure
Requirements) Regulations, 2018;
(c) Securities and Exchange Board of India (Substantial Acquisition of Shares
and Takeovers) Regulations, 2011;
(d) Securities and Exchange Board of India (Buyback of Securities) Regulations,
2018; Not applicable as there was no reportable event during the review
period
(e) Securities and Exchange Board of India (Share Based Employee Benefits
and Sweat Equity) Regulations, 2021; Not applicable as there was no
reportable event during the review period
(f) The Securities and Exchange Board of India (Issue and Listing of Non-
Convertible Securities) Regulations, 2021 Not applicable as there was no
reportable event during the review period
(g) Securities and Exchange Board of India (Prohibition of Insider Trading)
Regulations, 2015
(h) Securities and Exchange Board of India (Issue and Listing of Non-Convertible
and Redeemable Preference Shares) Regulations, 2013; Not applicable as
there was no reportable event during the review period;
(i) Securities and Exchange Board of India (Depositories and Participants)
Regulations, 1996 and Securities and Exchange Board of India (Depositories
and Participants) Regulations, 2018;
and circulars/guidelines issued there-under;
----------------Page (17) Break----------------
and based on the above examination, we hereby report that during the Review Period:
(a) The listed entity has complied with the provisions of the above Regulations and
circulars/guidelines issued thereunder except in respect of matters specified below:
Sr.
No
.
Compliance Requirement
(Regulations/ circulars/
guidelines Including Specific
clause)
Regulation/
Circular No.
Deviations Actio
n
Take
n by
Type
of
Actio
n
Details of
Violation
Fine
Amou
nt
Observations/
Remarks of
the Practicing
Company
Secretary
Managem
ent
Response
Re-
mark
s
1. As per Regulation 17(1)(a) of
SEBI (Listing Obligations and
Disclosures Requirements)
Regulation, 2015, Board of
Directors shall have an optimum
combination of Executive and
Non- Executive Directors (NED)
with at least one Woman
Director and not less than 50% of
the Board of Directors shall
comprise of Non- Executive
Directors.
Regulation
17(1)(a) of SEBI
(Listing
Obligations and
Disclosures
Requirements)
Regulation, 2015,
There is no Executive
Director on the Board
during the year
under review.
- - There is no
Executive Director
on the Board
during the year
under review.
- The Company
is yet to
appoint the
Executive
Director on
the Board.
The
Company
is under
process of
appointin
g the right
candidate
for the
directorshi
p.
-
----------------Page (18) Break----------------
2. As per Regulation 6(1)A of SEBI
(Listing Obligations and
Disclosures Requirements)
Regulation, 2015, any vacancy in
the office of the Compliance
Officer shall be filled by the
listed entity at the earliest and in
any case not later than three
months from the date of such
vacancy
Regulation 6(1)A
of SEBI (Listing
Obligations and
Disclosures
Requirements)
Regulation, 2015,
Non-compliance with
requirement to
appoint a qualified
company secretary as
the compliance
officer
- - Delay in
complying with the
requirement to
appoint the
Company
Secretary of not
later than three
months from the
date of such
vacancy.
- Non-
compliance
with
requirement
to appoint a
qualified
company
secretary as
the
compliance
officer
The delay
was due to
challenges
in finding
a suitable
Candidate
as well as
non-
operations
of the
Company.
However,
Mr. Sagar
Shah, has
been
appointed
effective
02nd May
2025
-
3. The Chief Executive Officer and
Chief Financial Officer of the
listed entity shall certify that the
financial results do not contain
any false or misleading statement
or figures and do not omit any
material fact which may make
the statements or figures
contained therein misleading.
Also, as per Regulation 17(8)
SEBI (Listing Obligations and
Disclosures Requirements)
Regulation, 2015, No compliance
certificate was provided to the
board of directors as specified in
Part B of Schedule II.
Also no disclosures in Annual
Report as specified in Schedule V
Regulation 17(8)
and 33 (2)(a),
27(2)(c) and
Schedule V as
mentioned
Regulation 34(3)
of SEBI (Listing
Obligations and
Disclosures
Requirements)
Regulation, 2015,
No CEO or CFO was
appointed during the
year.
Also, as per
Regulation 17(8), No
compliance
Certificate was
provided to the
board of directors as
specified in Part B of
Schedule II.
Also the quarterly
compliance report on
Corporate
Governance for the
March Quarter was
not signed by
Compliance Officer
- - No CEO or CFO
was appointed
during the year.
Also, as per
Regulation 17(8),
No compliance
Certificate was
provided to the
board of directors
as specified in Part
B of Schedule II.
Also the quarterly
compliance report
on Corporate
Governance for the
March Quarter was
not signed by
Compliance Officer
- Henceforth,
the Company
should ensure
compliance
with
regulatory
requirement.
The
Company
would be
complying
with the
same in
the forth-
coming
years.
-
----------------Page (19) Break----------------
as mentioned Regulation 34(3) of
SEBI (Listing Obligations and
Disclosures Requirements)
Regulation, 2015 was disclosed.
or the Chief
Executive Officer of
the listed entity.
Also no declaration
signed by the Chief
Executive Officer
stating that the
members of board of
directors and senior
management
personnel have
affirmed compliance
with the code of
conduct of board of
directors and senior
management.
or the Chief
Executive Officer
of the listed entity.
Also no declaration
signed by the Chief
Executive Officer
stating that the
members of board
of directors and
senior
management
personnel have
affirmed
compliance with
the code of conduct
of board of
directors and
senior
management.
4. The promoter of every target
company shall declare on a
yearly basis that he, along with
persons acting in concert, has not
made any encumbrance, directly
or indirectly, other than those
already disclosed during the
financial year within seven
working days from the end of
each financial year to every stock
exchange where the shares of the
target company are listed.
Regulation 31(4)
SEBI (Substantial
Acquisition of
Shares and
Takeovers)
Regulations,
2011.
The promoter of the
listed entity has not
disclosed details of
shares in
listed entity
encumbered by him
or by persons acting
in concert with him
in such form as
specified.
- - The promoter of
the listed entity has
not disclosed
details of shares in
listed entity
encumbered by
him or by persons
acting in concert
with him in such
form as specified.
- The promoter
of the listed
entity has not
disclosed
details of
shares in
listed entity
encumbered
by him or by
persons acting
in concert
with him in
such form as
specified
The
Company
would be
complying
with the
said
regulation
s in the
future.
-
----------------Page (20) Break----------------
5. Disclosure of necessary details in
case of Resignation of Key
Managerial Personnel as
mentioned in Regulation 30 read
with Schedule III Part A 7(C) of
SEBI (Listing Obligations and
Disclosures Requirements)
Regulation, 2015.
Regulation
30 read with
Schedule III Part
A 7(C) of SEBI
(Listing
Obligations and
Disclosures
Requirements)
Regulation, 2015.
No resignation letter
with detailed reasons
for resignation was
intimated by Mr.
Brijgopal Kankani to
the stock exchange.
- - No resignation
letter with detailed
reasons for
resignation was
intimated by Mr.
Brijgopal Kankani
to the stock
exchange.
- No
resignation
letter with
detailed
reasons for
resignation
was intimated
by Mr.
Brijgopal
Kankani to the
stock
exchange.
The
Company
had
inadvertan
tly missed
to file the
same.
-
6. Para (D) of Section III-A of
Chapter III of SEBI Master
Circular No.
SEBI/HO/CFD/PoD2/CIR/P/2
023/120 dated July 11,2023
(erstwhile SEBI Circular
No.CIR/CFD/CMD/ 56/2016
dated May27, 2016) regarding
“Disclosure of the Impact of
Audit Qualifications by listed
entities”
SEBI Master
Circular No.
SEBI/HO/CFD/
PoD2/CIR/P/20
23/120 dated
July 11,2023
Non submission of
Statement on Impact
of Audit
Qualifications or
Declaration of
unmodified audit
report in XBRL for
the year ended March
31, 2024.
- - The XBRL utility
was required to be
filed along with the
financial results;
however, the
company failed to
file the same.
- The XBRL
utility was
required to be
filed along
with the
financial
results;
however, the
company
failed to file
the same.
The
Company
will take
care of the
same in
future and
will
comply
the same.
-
----------------Page (21) Break----------------
7. The disclosures made by the
listed entity to the stock
exchanges shall be in XBRL
format in accordance with the
guidelines specified by the stock
exchanges from time to time.
Regulation 36(4)
of SEBI LODR ,
and BSE and NSE
had vide their
circulars dt:
January 27, 2023
Non-filing of XBRL
for Appointment of
Mr. Brijgopal
Kankani as the
Company Secretary
and Compliance
Officer.
- - Non-filing of XBRL
for Appointment of
Mr. Brijgopal
Kankani as the
Company
Secretary and
Compliance
Officer.
- The Company
has failed to
upload XBRL
for the Mr.
Brijgopal
Kankani as the
Company
Secretary and
Compliance
Officer.
The
Company
will take
care of the
same in
future and
will
comply
the same.
-
(b) The listed entity has taken the following actions to comply with the observations made in previous reports
Sr
no.
Observations/
Remarks of the
Practicing
Company
Secretary in
the previous
reports (PCS)
Observations made in
the secretarial
compliance report for the
year ended 31st March, 2024
Compliance Requirement
(Regulations/circulars/guidelines
including
specific clause)
Details of violation /
deviations and actions
taken / penalty
imposed, if any, on
the
listed entity
Remedial
actions, if
any, taken
by the
listed entity
Comments
of
the PCS
on
the actions
taken by
the
listed
entity
1. The Listed entity is yet to
appoint any Executive
Director on the Board.
No Executive Director on the
Board during the year under
review.
Board of Directors shall have an
Optimum combination of
executive and Non-Executive
Director (NED) with at least one
Woman Director and not less
than 50% of the BOD shall
comprise of NED's.
No Executive Director
on the Board during
the year under review.
The Company will
ensure compliance
of the same in
Succeeding years.
-
2. Henceforth, the
Company should ensure
No CEO or CFO was
appointed during the year.
The chief executive officer and
chief financial officer of the listed
No CEO or CFO was
appointed during the
The Company will
ensure compliance
-
----------------Page (22) Break----------------
compliance with
regulatory requirement.
Also, as per Regulation 17(8),
No compliance Certificate was
provided to the board of
directors as specified in Part B
of Schedule II.
Also the quarterly compliance
report on corporate
governance for the March
Quarter was not signed by
compliance officer or the chief
executive officer of the listed
entity.
Also no declaration signed by
the chief executive officer
stating that the members of
board of directors and senior
management personnel have
affirmed compliance with the
code of conduct of
board of directors and senior
management.
entity shall certify that the
financial results do not contain
any false or misleading statement
or figures and do not omit any
material fact which may make the
statements or figures contained
therein misleading.
Also, as per Regulation 17(8), No
compliance certificate was
provided to the board of directors
as specified in Part B of Schedule
II.
Also No disclosures in Annual
Report as specified in Schedule V
as mentioned Regulation 34(3) of
SEBI (LODR), 2015 was disclosed.
year.
Also, as per Regulation
17(8), No compliance
Certificate was
provided to the board
of directors as
specified in Part B of
Schedule II.
Also the quarterly
compliance report on
corporate governance
for the March Quarter
was not signed by
compliance officer or
the chief executive
officer of the listed
entity.
Also no declaration
signed by the chief
executive officer
stating that the
members of board of
directors and senior
management
personnel have
affirmed compliance
with the code of
conduct of
board of directors and
senior management.
of the same in
Succeeding years.
3. Henceforth, the Company
should ensure compliance
with regulatory
requirement.
The listed entity has not made
disclosure to stock exchange of
Amendments to Articles of
Association in brief.
Disclosures of events or
information as specified in Part A
of the Schedule III as mentioned
Regulation 30 of SEBI (LODR),
2015.
The listed entity has
not made disclosure to
stock exchange of
Amendments to
Articles of Association
in brief.
The Company will
ensure compliance
of the same in
Succeeding years.
-
----------------Page (23) Break----------------
4. Henceforth, the Company
should ensure compliance
with regulatory
requirement.
The listed entity, has not
included a certificate from a
Practicing Chartered
Accountant stating compliance
with conditions
provided in sub regulation
45(1) in the explanatory
statement to the notice seeking
shareholders’ approval for
change in name.
Upon compliance with the
conditions for change of name
laid down in Companies Act,
2013 and rules made thereunder,
the listed entity, in the
explanatory statement to the
notice seeking shareholders’
approval for change in name,
shall include a Certificate from a
practicing chartered accountant
stating compliance with
conditions provided in
Regulation 45 (1) as mentioned in
Regulation 45(3)) of SEBI (LODR),
2015
The listed entity, has
not included a
certificate from a
Practicing Chartered
Accountant stating
compliance with
conditions provided in
sub regulation 45(1) in
the explanatory
statement to the notice
seeking shareholders’
approval for change in
name.
The certificate was
acquired from
Practicing Chartered
Accountant,
however, the
omission of
certificate from the
explanatory
statement to the
notice occurred as a
result of human
error.
-
5. Henceforth, the Company
should ensure compliance
with regulatory
requirement.
The promoter of the listed
entity has not disclosed details
of shares in listed entity
encumbered by him or by
person acting in concert with
him in such form as specified.
Disclosure of encumbered shares
as mentioned in Regulation 31(4)
of SEBI (Substantial Acquisition
of Shares and Takeovers) (Second
Amendments) Regulations, 2019.
The promoter of the
listed entity has not
disclosed details of
shares in listed entity
encumbered by him or
by person acting in
concert with him in
such form as specified.
The Promoter is
under RP, therefore
the disclosure was
not submitted.
-
Note:
1. Provide the list of all the observations in the report for the previous year along with the actions
taken by the listed entity on those observations.
2. Add the list of all observations in the reports pertaining to the periods prior to the previous year
in case the entity has not taken sufficient steps to address the concerns raised/ observations.
----------------Page (24) Break----------------
(c) During the Review Period the compliance status of the listed entity is appended as below:
Sr.
No.
Particulars Compliance
Status (Yes/
No/NA)
Observations
/Remarks by PCS
1 Secretarial Standards:
The compliances of the listed entity are in accordance with the applicable Secretarial Standards (SS) issued
by the Institute of Company Secretaries India (ICSI), as notified by the Central Government under section 118
(10) of the Companies Act, 2013 and mandatorily applicable
Yes
Nil
2 Adoption and timely updating of the Policies:
• All applicable policies under SEBI Regulations are adopted with the approval of board of directors of
the listed entities
• All the policies are in conformity with SEBI Regulations and have been reviewed & updated on time,
as per the regulations/
circulars/guidelines issued by SEBI
Yes
Nil
3 Maintenance and disclosures on Website:
• The Listed entity is maintaining a functional website
• Timely dissemination of the documents/ information under a separate section on the website
• Web-links provided in annual corporate governance reports under Regulation 27(2) are accurate and
specific which re-directs to the relevant document(s)/section of the website
Yes
Nil
4 Disqualification of Director:
None of the Director(s)of the Company is/ are disqualified under Section 164 of Companies Act, 2013 as
confirmed by the listed entity.
Yes
Nil
5 Details related to Subsidiaries of listed entities have been examined w.r.t.:
(a) Identification of material subsidiary companies
(b) Disclosure requirement of material as well as other subsidiaries
Yes
Nil
----------------Page (25) Break----------------
6 Preservation of Documents:
The listed entity is preserving and maintaining records as prescribed under SEBI Regulations and disposal
of records as per Policy of Preservation of Documents and Archival policy prescribed under SEBI LODR
Regulations, 2015.
Yes
Nil
7 Performance Evaluation:
The listed entity has conducted performance evaluation of the Board, Independent Directors and the
Committees at the start of every financial year/during the financial year as prescribed in SEBI Regulations.
Yes
Nil
8 Related Party Transactions:
(a) The listed entity has obtained prior approval of Audit Committee for all related party transactions; or
(b) The listed entity has provided detailed reasons along with confirmation whether the transactions were
subsequently approved/ratified/rejected by the Audit Committee, in case no prior approval has been
obtained.
Yes Nil
9 Disclosure of events or information:
The listed entity has provided all the required disclosure(s) under Regulation 30 along with Schedule III of
SEBI LODR Regulations, 2015 within the time limits prescribed thereunder.
Yes
Nil
10
Prohibition of Insider Trading:
The listed entity is in compliance with Regulation 3(5) & 3(6) SEBI (Prohibition of Insider Trading)
Regulations,2015.
Yes Nil
11 Actions taken by SEBI or Stock Exchange(s), if any:
No action(s) has been taken against the listed entity/its promoters/directors/subsidiaries either by SEBI orby
Stock Exchanges (including under the Standard Operating Procedures issued by SEBI through various
circulars) under SEBI Regulations and circulars/guidelines issued there under
Yes
NIL
----------------Page (26) Break----------------
12 Resignation of statutory auditors from the listed entity or its material subsidiaries
In case of resignation of statutory auditor from the listed entity or any of its material subsidiaries during
the financial year, the listed entity and / or its material subsidiary(ies) has / have complied with paragraph
6.1 and 6.2 of section V-D of chapter V of the Master Circular on compliance with the provisions of the
LODR Regulations by listed entities.
Yes
NIL
13 No additional non-compliances observed:
No additional non-compliance observed for any of the SEBI
regulation/circular/guidance note etc. except as reported above.
Yes NIL
(d) Compliances related to resignation of statutory auditors from listed entities and their material subsidiaries as per SEBI Circular
CIR/CFD/CMD1/114/2019 dated October 18, 2019
Sr. No. Sr. No. Particulars Compliance
Status (Yes/No/
NA)
Observations
/Remarks by
PCS
1. Compliances with the following conditions while appointing/re-appointing an auditor
i. If the auditor has resigned within 45 days from the end of
a quarter of a financial year, the auditor before such
resignation, has issued the limited review/ audit report for
such quarter; or
ii. If the auditor has resigned after 45 days from the end of
a quarter of a financial year, the auditor before such
resignation, has issued the limited review/ audit report for
such quarter as well as the next quarter; or
iii. If the auditor has signed the limited review/ audit
report for the first three quarters of a financial year, the
auditor before such resignation, has issued the limited
review/ audit report for the last
NA Not Applicable during the year under review.
----------------Page (27) Break----------------
quarter of such financial year as well as the audit report for
such financial year.
2. Other conditions relating to resignation of statutory auditor
i. Reporting of concerns by Auditor with respect to the
listed entity/its material subsidiary to the Audit
Committee:
a. In case of any concern with the
management of the listed entity/material subsidiary such
as non-availability of information / non-cooperation by the
management which has hampered the audit process, the
auditor has approached the Chairman of the Audit
Committee of the listed entity and the Audit Committee
shall receive such concern directly and immediately
without specifically waiting for the quarterly Audit
Committee meetings.
b. In case the auditor proposes to resign, all concerns with
respect to the proposed resignation, along with relevant
documents has been brought to the notice of the Audit
Committee. In cases where the proposed resignation is due
to non-receipt of information / explanation from the
company, the auditor has informed the Audit Committee
the details of information/ explanation sought and not
provided by the management, as applicable.
c. The Audit Committee / Board of Directors, as the case
may be, deliberated on the matter on receipt of such
information from the auditor relating to the proposal to
resign as mentioned above and communicate its views to
the management and the auditor.
ii. Disclaimer in case of non-receipt of information:
The auditor has provided an appropriate disclaimer in its
audit report, which is in accordance with the Standards of
NA Not Applicable during the year under review.
----------------Page (28) Break----------------
Auditing as specified by ICAI / NFRA, in case where the
listed
entity/ its material subsidiary has not provided
information as required by the auditor.
3. The listed entity / its material subsidiary has obtained
information from the Auditor upon resignation, in the
format as specified in Annexure- A in SEBI Circular CIR/
CFD/ CMD1/ 114/2019 dated 18th October, 2019.
NA Not Applicable during the year under review
----------------Page (29) Break----------------
Assumptions & Limitation of scope and Review:
1. Compliance of the applicable laws and ensuring the authenticity of documents and information furnished, are the responsibilities of the management
of the listed entity.
2. Our responsibility is to report based upon our examination of relevant documents and information. This is neither an audit nor an expression of
opinion.
3. We have not verified the correctness and appropriateness of financial Records and Books of Accounts of the listed entity.
4. This Report is solely for the Intended purpose of compliance in terms of Regulation 24A (2) of the SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015 and is neither an assurance as to the future viability of the listed entity nor of the efficacy or effectiveness with which
the management has conducted the affairs of the listed entity.
Thanking You,
For Mayank Arora & Co.
Company Secretaries
Mayank Arora
Partner
CP No: 13609
M No : F10378
PR No.: 5923/2024
UDIN: F010378G000501231
Place: Mumbai
Dated: 30/05/2025
----------------Page (30) Break----------------
