Annual Secretarial Compliance Report for FY 2024-25.

BEML Ltd submitted its Annual Secretarial Compliance Report for the year ended 31 March 2025, as required under SEBI Regulation 24A. The report confirms overall compliance with secretarial standards, SEBI regulations, insider trading norms, and disclosure requirements, with no actions taken by SEBI or stock exchanges beyond one specific issue. The main non-compliance flagged is the lack of the required number of Independent Directors and the absence of a Woman Director on the Board, which in turn means key committees (Audit, Nomination & Remuneration, Stakeholder Relationship, and Risk Management) are not properly constituted. BEML has clarified that it is a Government Company under the Ministry of Defence, and director appointments are made by the Government of India, so the shortfall is beyond the company's control. BSE and NSE imposed total penalties of Rs 33,44,120 for the quarters ended June, September, and December 2024; for the January–March 2025 quarter, the company has already responded to the exchanges' clarification. Management is actively following up with the Ministry of Defence to fill vacancies and has requested waiver of existing and future penalties.