Annual Secretarial Compliance Report for the financial year ended 31st March, 2025
Awaiting price reaction for this filing.
Inox Wind Limited has submitted its Annual Secretarial Compliance Report for FY 2024-25, filed under SEBI Regulation 24A and certified by J.K. Gupta & Associates. The report confirms overall compliance with SEBI regulations, secretarial standards, and listing requirements. However, three instances of non-compliance were flagged: (1) Regulation 17(1) violation regarding board composition, leading to a fine of Rs. 4,18,900 each from NSE and BSE; (2) Regulation 30 violation for delayed intimation of an analyst/investor meet schedule by one working day, attributed to miscounting Maharashtra Day as a working day; (3) Regulation 23(4) violation related to related-party voting on the issuance of 0.01% NCPRPS worth Rs. 400 crore to promoter Inox Wind Energy at the September 2023 AGM, resulting in an SEBI administrative warning letter dated 26th March 2025. Additionally, a fine was imposed for non-compliance of Regulation 47(1). The company states it has made the defaults good and paid the fines.
While the company is broadly compliant, the multiple regulatory lapses—including SEBI's warning on related-party transaction voting—raise minor governance concerns. The fines are small relative to the company's size, but investors should note recurring compliance shortcomings around board composition, disclosures, and related-party dealings.