VB Desai Financial Services Exempted from Annual Secretarial Compliance Report for FY26

VB Desai Financial Services Limited has notified BSE Limited about its exemption from filing the Annual Secretarial Compliance report under Regulation 24(A) of SEBI (Listing Obligations and Disclosure Requirements) Regulations for the financial year ended March 31, 2026. The exemption is based on the company's financial position falling below prescribed regulatory thresholds.

Regulatory Exemption Details

The company qualifies for exemption under Regulation 15(2)(a) of SEBI LODR Regulations, 2015, as both its paid-up equity share capital and net worth remain below the specified limits. According to the regulation, companies with paid-up capital not exceeding Rs. 10 crore and net worth not exceeding Rs. 25 crore as on the last day of the previous financial year are exempted from various compliance requirements.

Financial Position

The company's current financial standing as of March 31, 2026:

Parameter:	Amount (Rs. in crores)
Paid-up Capital:	4.54
Reserves and Surplus:	7.51
Net Worth:	11.49

Exempted Regulations

Due to meeting the exemption criteria, the following SEBI LODR regulations are not applicable to the company for FY26:

Regulations 17, 17A, 18, 19, 20, 21, 22, 23, 24, 24A, 25, 26, 26A, and 27
Clauses (b) to (i) and (t) of sub-regulation (2) of regulation 46
Para C, D and E of Schedule V

Company Commitment

VB Desai Financial Services, which operates as a Category II Merchant Banker with SEBI Registration No. INM 000002731, has undertaken to file the required reports under Regulation 24A once the company crosses the exempted threshold levels. Company Secretary and Compliance Officer Kamlesh M Gagavani signed the notification dated April 14, 2026, formally communicating this exemption status to the stock exchange.

The exemption provides regulatory relief to smaller companies while ensuring they remain committed to compliance once they achieve the prescribed size thresholds.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-3.45%	-4.57%	+13.78%	-34.28%	-55.01%	+339.10%

V.B. Desai Financial Services Limited has issued a formal response to the BSE's surveillance department regarding recent price movements in its shares. The Category I Merchant Banker, registered with SEBI under registration number INM 000002731, addressed the exchange's inquiry dated April 08, 2026.

Company's Response to Price Movement Query

The company clarified that the observed price movements are purely market-driven phenomena connected to general market conditions. In its response dated April 09, 2026, V.B. Desai Financial Services emphasized that these fluctuations are not attributed to any specific company-related developments or undisclosed information.

Parameter	Details
Query Reference	L/SURV/ONL/PV/APJ/ 2026-2027 / 3537
Scrip Code	511110
Response Date	April 09, 2026
Signatory	Pradip R. Shroff, Managing Director

Regulatory Compliance Confirmation

The merchant banker confirmed its adherence to regulatory requirements under the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company specifically referenced Regulation 30, which governs the disclosure of material events and information to stock exchanges.

V.B. Desai Financial Services stated that it has been in compliance with these regulations and committed to continue informing the stock exchange of any material information as required. The company explicitly mentioned that to its knowledge, there is currently no information or event that is significant and price sensitive requiring dissemination to investors.

Management Statement

Managing Director Pradip R. Shroff, bearing DIN 00286291, signed the official response to BSE Limited's surveillance department. The communication was addressed to the Manager of the Surveillance Department at BSE's P.J. Towers location in Fort, Mumbai. The response requested BSE to acknowledge receipt and take the clarification on record.