we enclose herewith the Annual Secretarial Compliance Report issued by H. Maheshwari & Associates, Practicing Company Secretaries, a Peer Reviewed firm, for the financial year ended March 31, 2026.
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Golden Legand Leasing & Finance Ltd has submitted its Annual Secretarial Compliance Report for the financial year ended March 31, 2026. The report, issued by Practicing Company Secretary H. Maheshwari & Associates, identifies 3 deviations: (1) Delay in filling Independent Director vacancy - Mr. Anand Kumar resigned on August 20, 2025, but the replacement was appointed only on March 30, 2026, violating the 3-month timeline under Regulation 17(1)(b), resulting in a fine of Rs. 2,05,000; (2) Delay in reconstitution of Nomination and Remuneration Committee due to the same resignation, fined Rs. 82,000; (3) Delay in submitting this Annual Secretarial Compliance Report within the prescribed timeline, fined Rs. 6,000. Total fines amount to Rs. 2,93,000. The company states it has since appointed a new Independent Director and restored compliance. The report also notes the company was under BSE suspension until January 24, 2025.
The compliance violations, while now resolved, indicate governance lapses during November 2025 to March 2026. The total fine of Rs. 2.93 lakh is relatively small but signals weak board composition management. Shareholders should note the company has a history of compliance delays including late filings during its suspension period.