Kelsey Developments PLC announced that Company failed to submit its Annual Report for the financial year ended 31st March 2023 as required in terms of Rule 7.5 (a) (i) of the Listing Rules. CSE, by letter dated 24th January 2024, notified the Company and its Board of Directors of the non-compliance with the said Rule. However, the Company has failed to rectify the non-compliance by submitting the relevant Annual Report and therefore continues to act in violation of the Listing Rules.

Having considered the continued non-compliance of the Listing Rules by the Company, a penalty of (INR 111,111/-) was imposed on each director of the Board of Directors of the Company on 6th March 2024, in terms of the SEC Directive dated 06th October 2023 (Ref: No. SEC/LEG/23/10/07), for their failure to ensure compliance with the Listing Rules in respect of submission of Annual Report for the financial year ended 31st March 2023.