Enclosed herewith Annual Secretarial Compliance Report for the period ended 31st March, 2026
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Bang Overseas Ltd has filed its Annual Secretarial Compliance Report for the financial year ended March 31, 2026, reviewed by Practicing Company Secretary Sonam Jain. The company has largely complied with SEBI regulations including LODR, PIT, and Takeover regulations. One non-compliance was noted: 63,600 promoter shares (held by the promoter group) remain in physical certificate form instead of dematerialized form as required under Regulation 31(2) of SEBI LODR. This is a repeat observation flagged in previous years (2021-2024). Management stated they are taking necessary steps to resolve this. Two other issues from prior reports were resolved: technical SDD software issues for insider trading database have been fixed, and the company appointed an additional director in May 2025 to meet the minimum six-director requirement.
The ongoing failure to dematerialize promoter shares represents a minor regulatory non-compliance that could attract regulatory scrutiny or fines, though management claims they are working to resolve it. The company appears fundamentally well-governed with no major compliance concerns raised by the PCS.