Clarification on the delay disclosure of Resignation of Company Secretary and Compliance Officer
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Bharat Global Developers Ltd has clarified to BSE why it delayed reporting the resignation of its Company Secretary and Compliance Officer, who stepped down effective November 30, 2025. The company filed the resignation disclosure on December 5, 2025 — about 5 days late, missing SEBI's 24-hour disclosure deadline. The company blamed 'administrative and internal procedural delays' including verification of the formal resignation communication, and said the delay was inadvertent with no intention to withhold information. The Managing Director has assured the exchange that steps are being taken to strengthen internal review and disclosure processes to avoid future delays.
This is a negative governance signal — the company failed to meet a mandatory 24-hour disclosure rule for a KMP resignation, which may concern shareholders about compliance standards. Investors should watch for the appointment of a new Company Secretary and any further compliance lapses, as repeated delays could attract regulatory action and dent investor confidence.