Annual Secretarial Compliance Report for the year ended March 31, 2026.
INCREDIBLE · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
MR & Associates, a peer-reviewed firm of Practicing Company Secretaries, conducted a secretarial review of Incredible Industries Ltd for FY 2025-26 (April 2025 – March 2026). The company was found to be in compliance with applicable SEBI regulations, the Companies Act 2013, and Secretarial Standards across all 11 areas examined, including related party transactions, insider trading norms, website disclosures, and document preservation. One legacy matter remains ongoing: an adjudication order passed by SEBI on May 13, 2022, imposing a penalty of Rs. 7 lakh for alleged non-compliance with Clause 49 of the Listing Agreement and Regulations 23(1), (2), and (4) of SEBI LODR. Enforcement of this penalty is stayed pending the outcome of Civil Appeal No. 4741/2021 (SEBI vs. Suzlon Energy Ltd) before the Hon'ble Supreme Court. No new violations or SEBI actions were recorded during the review period. The report recommends strengthening internal review and ensuring proper DSC affixing and functional QR codes in public disclosures.
No immediate risk to shareholders — the filing is a routine compliance certificate with no new violations. The pending SEBI penalty is not new and its enforcement remains stayed pending a Supreme Court case, reducing near-term enforcement risk.