Annual Secretarial Compliance Report for the financial ending March 31, 2026.
AJAXENGG · price
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Ajax Engineering Limited has filed its Annual Secretarial Compliance Report for FY 2025-26, reviewed by BMP & Co LLP, Practicing Company Secretaries. The report shows the company largely complied with SEBI regulations, secretarial standards, and disclosure requirements. One exception was noted: the company entered into a related party transaction of Rs. 40 lakhs with a relative of a director without obtaining prior Audit Committee approval as required under Regulation 23(2) of SEBI LODR. The Audit Committee ratified this transaction at its meeting on May 18, 2026, noting it was a one-time procedural lapse in an ordinary course business transaction at arm's length with no loss to the company. The Board and Audit Committee have taken a serious view and initiated a comprehensive review of compliance mechanisms to prevent future occurrences.
This is a routine regulatory filing with a minor procedural deviation. The related party transaction issue has been formally ratified by the Audit Committee, and the company has committed to strengthening compliance controls. The impact on shareholders appears limited as the transaction was in the ordinary course of business and no financial loss was incurred.