Annual Secretarial Compliance Report_31.03.2026
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Ashnisha Industries Ltd has filed its Annual Secretarial Compliance Report for FY 2025-26, reviewed by Practicing Company Secretary Chintan K. Patel. The company was found to have complied with most statutory provisions under SEBI regulations. However, one deviation was noted: the company failed to appoint at least one independent director on the board of its unlisted material subsidiary, Adzillow Private Limited, as required under Regulation 24(1) of SEBI LODR Regulations, 2015. No fine was imposed. Management has stated the company is actively searching for suitable independent director candidates for both the main board and its material subsidiary. All other compliance checks—including secretarial standards, document preservation, related party transactions, and insider trading regulations—showed full compliance.
The single regulatory non-compliance regarding independent director appointment for the material subsidiary is a minor governance issue. No immediate penalty was levied, and management has committed to rectifying it. However, investors should monitor progress on this compliance gap as it could attract regulatory scrutiny if unresolved.