AVATAR STEELS ENVIOUS’ TRACK RECORD ON NON COMPLIANCE & NO GOVERNANCE

A VATAR STEELS ENVIOUS’ TRACK

 RECORD,ON NON COMPLIANCE & NO

 GOVERNANCE

BEWARE OF IPO’s WITH GOVERNANCE FAILURES FOR THE LAST

9 YEARS

AVATAR STEELS ran for NINE years without an audit committee.

It paid a penalty to the Registrar of Companies on August 7, 2026. And filed its IPO papers (DRHP) on August 14, 2026. Seven days later.

·       NO AUDIT COMMITTEE

·       NO INDEPENDENT DIRECTOR

·       NO WOMEN DIRECTOR

·       NO DIVIDEND POLICY

·       NEW COMPANY SECRETARY & CFO

·       INDEPENDENT DIRECTOR RESIGNED ON THE DATE OF VOTING ON IPO

WILL THE SEBI LOOK INTO THESE COMPANIES DRHP FILINGS?

R V SECKAR, FCS, LLB