Annual Secretarial Compliance Report for the Financial Year ended March 31, 2026
Awaiting price reaction for this filing.
Harig Crankshafts Limited has submitted its Annual Secretarial Compliance Report for FY 2025-26, reviewed by M/s R&D Company Secretaries. The report identifies multiple compliance failures during the review period. The company failed to maintain the minimum 10% public shareholding as required under SEBI regulations, resulting in BSE levying a fine of Rs. 4,83,800 and initiating freezing action against promoters on 21.08.2025. Compliance was later achieved on 03.10.2025. Several director appointments made on 17.05.2024 were not approved by shareholders within the mandated 3-month period. Quarterly financial results were consistently delayed beyond prescribed timelines due to delays in auditor appointment following the NCLT-approved CIRP resolution. Multiple regulatory filings including corporate governance reports, shareholding patterns, share capital audit reports, and related party transaction disclosures were not filed within required timelines. The company attributes these failures to post-CIRP transitional challenges and historical data unavailability.
The company faced regulatory penalties and freezing action from BSE for non-compliance. While most procedural violations have been subsequently regularized, the pattern of delays raises governance concerns for investors, particularly given the ongoing post-restructuration recovery phase.