Annual Secretarial Compliance Report for the year ended on 31st March 2026
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Asgard Alcobev Ltd (formerly Banganga Paper Industries Ltd) has submitted its Annual Secretarial Compliance Report for FY2025-26, reviewed by PCS Kalpana Srinivasan. The report identifies one deviation: the company did not maintain proper Board composition during Q3 (quarter ended December 2025) as required under Regulation 17(1) of SEBI LODR Regulations. BSE imposed a fine of Rs. 4,48,400 (approximately Rs. 4.5 lakh). The company has stated this was rectified in the subsequent quarter. All other compliance requirements including secretarial standards, insider trading regulations, related party transactions, and disclosure obligations were met. No additional non-compliances were observed.
The fine of Rs. 4.5 lakh is relatively small and the board composition issue was already corrected in Q4 FY26, suggesting minimal long-term impact. However, investors should note this as a governance lapse during Q3 FY26. The stock (BSE Code: 512025) may see minor negative sentiment from this regulatory non-compliance, though the timely correction is a positive sign.