Annual Secretarial Compliance Report FY 2025-26
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Happy Forgings Ltd has filed its Annual Secretarial Compliance Report for FY 2025-26 with the stock exchanges. The report, issued by Chandrasekaran Associates, Company Secretaries, reveals one compliance deviation: the Nomination and Remuneration Committee (NRC) was not duly constituted for 6 days (May 3-10, 2025) after Mr. Satish Sekhri completed his tenure as Independent Director. This violated Regulation 19(1)/19(2) of SEBI LODR Regulations, which requires at least 3 members with two-thirds being independent directors. NSE and BSE each imposed a fine of Rs. 14,160 (including GST), which the company paid on September 2, 2025. The NRC was subsequently reconstituted in compliance. All other compliance areas including secretarial standards, policies, website disclosures, director disqualification, related party transactions, and insider trading norms were found satisfactory.
This is a minor, technical compliance lapse that was promptly corrected. The company paid fines totaling approximately Rs. 28,320 to both exchanges. The board acknowledged the non-compliance was not wilful. For shareholders, this filing indicates overall satisfactory corporate governance with one isolated regulatory lapse that has been addressed.