Pursuant to Regulation 24A of the SEBI Listing Regulations, 2015 read with the relevant SEBI Circulars, please find enclosed the Annual Secretarial Compliance Report for the financial year ....
BRITANNIA · price
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Britannia Industries has filed its Annual Secretarial Compliance Report for the financial year ended March 31, 2025, as required under SEBI's Listing Regulations. The report, prepared by M/s Parikh & Associates, confirms that the company has generally complied with applicable SEBI regulations during the review period. One historical deviation is flagged: the Nomination and Remuneration Committee was not properly constituted (missing an Independent Director) from May 2, 2022 to September 2, 2022. BSE imposed a fine of Rs. 2,90,280 on this count; Britannia's waiver request was rejected on June 19, 2024, and the fine was paid on June 26, 2024. The company has since rectified the issue by appointing an Independent Director. Additionally, a pending SEBI order in the Bombay Dyeing matter (involving promoter directors, currently stayed by SAT) and a settlement payment by promoter directors in the Bombay Burmah case are noted. All other compliance areas — secretarial standards, insider trading, related party transactions, disclosures, and website maintenance — are reported as fully compliant.
This is a routine annual compliance filing with no new material concerns. The NRC composition issue is over two years old, has already been corrected, and the associated fine has been settled. Shareholders are unlikely to see any meaningful impact on the stock price from this disclosure.