Secretarial Compliance Report for the financial year ended 31-03-2026
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GG Automotive Gears Ltd has filed its Annual Secretarial Compliance Report for FY 2025-26, reviewed by Kunal Sakpal of HSPN & Associates LLP. The report identifies three non-compliances: (1) Board composition violation under Regulation 17(1)(a) for which BSE imposed a penalty of INR 3,06,800; the company has now appointed the required Independent Director and has appealed the penalty rejection with SAT. (2) Promoter share dematerialization incomplete with 2,45,732 shares (6.41% of promoter holding) still in physical form. (3) 4-day delay in intimating BSE about the penalty levy, attributed to the communication arriving over a weekend. Most other compliance areas including secretarial standards, related party transactions, insider trading norms, and website disclosures are marked compliant.
The company faces regulatory scrutiny with a pending penalty of INR 3.06 lakh and incomplete dematerialization of promoter shares. While the board composition issue has been remedied, investors should monitor the SAT appeal outcome and track progress on full promoter share dematerialization as these could impact compliance standing.