Annual Secretarial Compliance Report for FY 2025-26
BFUTILITIE · price
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BF Utilities Limited filed its Annual Secretarial Compliance Report for the year ended March 31, 2026, certified by SVD & Associates. The report reveals two key non-compliances: (1) Repeated delays in submitting quarterly and annual consolidated financial results under Regulation 33, caused by delays from subsidiaries (Nandi Infrastructure Corridor Enterprises, Nandi Economic Corridor Enterprises, and Nandi Highway Developers). Fines totaling INR 11.74 lakh each were levied by BSE and NSE, which the company paid. The scrip was moved to the 'Z' category from October 2025 to April 2026, and a promoter's demat account was suspended during this period. (2) Failure to appoint an Independent Woman Director within 3 months of vacancy (Regulation 17), resulting in fines of INR 2.71 lakh each from BSE and NSE. The company appointed the director from March 17, 2026. Additionally, SEBI had issued a show cause notice regarding material related party transactions from earlier years, which was settled for INR 36.28 lakh in February 2026.
The company faced regulatory actions due to delayed financial reporting and board composition issues. While the scrip has been restored to normal category from April 2026 and fines were paid, the repeated nature of Regulation 33 violations indicates ongoing governance weaknesses stemming from subsidiary-level delays. Shareholders should monitor if these compliance issues recur in FY 2026-27.