Compliance under Regulation 24(A) of the SEBI(LODR) Regulation 2015
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Burnpur Cement Ltd has submitted its Annual Secretarial Compliance Report for FY 2025-26, reviewed by secretarial auditors M & A Associates. The report identifies three non-compliances: (1) The company chairperson chaired the Nomination and Remuneration Committee, violating Regulation 19(1)/19(2), attracting a fine of Rs 1,84,080; (2) Annual audited financial results for FY 2024-25 were delayed by 38 days due to the statutory auditor's (M/s Agarwal HP & Associates) resignation on May 27, 2025, resulting in a fine of Rs 1,53,400 which was subsequently waived; (3) Mrs Poonam Srivastava was re-appointed as an Independent Director after age 75 without shareholder approval, violating Regulation 17(1A), with fines of Rs 1,55,760 each from NSE and BSE but later reversed following a SAT order. The management has been taken over by UV Asset Reconstruction Company Ltd (UVARCL) under the SARFAESI Act.
The company has largely complied with SEBI regulations, but recurring governance issues around board committee composition and delayed financial reporting indicate weak internal controls. Most penalties have been waived or reversed, reducing financial impact, though governance failures remain a concern for investors.