Annual Secretarial Compliance Report for the FY ended 31-03-2026
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Bihar Sponge Iron Limited has filed its Annual Secretarial Compliance Report for FY 2025-26, reviewed by Practicing Company Secretaries Soniya Gupta & Associates. The report confirms the company largely complied with SEBI regulations including LODR, PIT, and takeover regulations. One deviation was noted: as on 31 March 2026, only 47.95% of promoter shareholding is in dematerialized form, against the requirement of 100% per SEBI circular. The remaining 52.05% shares (32,500,300 shares held by Moderate Leasing and Capital Services Limited) are physical and pledged. The company stated it has intimated promoters to dematerialize shares and the process is ongoing. No fines, warnings, or show cause notices were issued. This same issue was flagged in the previous year's report as well.
Minor compliance issue — promoter dematerialization at 47.95% vs required 100%. No penalties imposed. Company is working to convert remaining physical shares to demat form. This is a routine governance observation with no direct impact on stock price but indicates ongoing promoter-level compliance gap.