Please refer attached disclosure for Annual Secretarial Compliance Report for period ended March 31, 2026
IDFCFIRSTB · price
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IDFC First Bank has submitted its Annual Secretarial Compliance Report for FY 2025-26, certified by Practicing Company Secretaries Makarand M. Joshi & Co. The report shows general compliance with SEBI regulations including Listing Obligations, ICDR Regulations, Takeover Regulations, Insider Trading Regulations, and Depositories Regulations. However, one deviation was noted: the bank entered into Material Related Party Transactions (MRPT) with Goldman Sachs (India) Capital Markets Private Limited during April-December 2024 involving treasury instruments (T-bills, G-Secs, SDLs) without obtaining prior shareholder approval as required under Regulation 23(4). The aggregate transaction value exceeded Rs. 1,000 crore threshold. This omission was subsequently rectified when shareholders approved the transactions on March 19, 2025. No other non-compliance or additional observations were reported by the secretarial auditor.
The non-compliance was procedural in nature, occurred due to unintentional oversight, and was subsequently corrected via shareholder approval. This is unlikely to have a significant negative impact on the stock given the ratification. However, it does indicate a gap in the bank's internal compliance monitoring for related party transaction thresholds.