SecureKloud Faces Potential Delisting of Stepdown Subsidiary Healthcare Triangle Inc. from NASDAQ
By Ankur Chandra | Updated at: May 31, 2025 07:30 PM IST
CHENNAI, May 24, 2025 – SecureKloud Technologies Ltd. (NSE: SECURKLOUD, BSE: 512161) has informed the stock exchanges that its U.S.-based stepdown subsidiary, Healthcare Triangle Inc. (HTI), has received a delisting notice from NASDAQ. The action stems from HTI’s failure to comply with a continued listing rule related to securities issuance following a private placement conducted on February 27, 2025.
NASDAQ Compliance Challenge
According to the official disclosure, NASDAQ issued the delisting notice on May 20, 2025, citing deficiencies in HTI’s adherence to listing standards. The NASDAQ Hearings Panel has provided the company a deadline of May 30, 2025, to submit a written explanation and compliance plan.
HTI filed a Form 8-K with the U.S. Securities and Exchange Commission (SEC) on May 23, 2025, indicating its intention to respond to the panel and submit a compliance plan. Additionally, the company plans to seek a listing on the OTCQB Market operated by OTC Markets Group Inc., as a contingency measure should the NASDAQ delisting proceed.
Impact on SecureKloud
SecureKloud confirmed that this development affects the company only to the extent of the subsidiary’s compliance and operational status. There is no financial amount involved in the delisting notice, and the event has already been reported to the relevant authorities.
| Key Details | Remarks |
|---|---|
| Date of Notice | May 20, 2025 |
| Company Involved | Healthcare Triangle Inc. (Stepdown subsidiary) |
| Reason for Delisting | Non-compliance with continued listing requirements post private placement |
| SEC Filing | Form 8-K filed on May 23, 2025 |
| Planned Action | Compliance plan submission; applying to OTCQB market |
| Financial Impact on Parent | Limited to compliance-level exposure |
Official Statement
Jayashree Vasudevan, Company Secretary and Compliance Officer of SecureKloud, confirmed in the filing,
“This disclosure was filed with the Securities and Exchange Commission by Healthcare Triangle Inc. on May 23, 2025, Pacific Time, and was simultaneously published in India.”
SecureKloud Technologies Ltd., headquartered in Chennai, offers secure cloud and digital transformation services globally. The company continues to monitor the situation closely and will update stakeholders based on the outcome of the NASDAQ panel’s decision.
REF: https://nsearchives.nseindia.com/corporate/SECURKLOUD_24052025221542_E9_HCTI_notice_of_delisting.pdf
