Annual Secretarial Compliance Report_31.03.2026
GNRL · price
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Gujarat Natural Resources Ltd has submitted its Annual Secretarial Compliance Report for FY2025-26, reviewed by Practicing Company Secretary Chintan K. Patel. The report covers compliance with SEBI regulations including LODR 2015, ICDR 2018, SAST 2011, and PIT Regulations 2015. The company achieved compliance across all major areas including secretarial standards, policy adoption, website disclosures, director disqualification checks, related party transactions, and insider trading norms. One violation was noted: the company has not appointed an independent director on the boards of its unlisted material subsidiaries — Heramec Oil & Gas (Singapore) Pte Ltd and GNRL Oil & Gas (I) Private Ltd — in breach of Regulation 24(1) of SEBI LODR. This issue has persisted since FY2023. Additionally, GNRL Oil & Gas Ltd was amalgamated into GNRL Oil & Gas (I) Private Ltd during the year per NCLT order dated 20 January 2026. No penalties or exchange actions have been imposed.
The ongoing non-appointment of an independent director on material subsidiary boards is a governance concern. Management has given assurance it is searching for suitable candidates. No fine has been imposed so far, but repeated non-compliance could attract regulatory attention.