Annual Secretarial Compliance Report under Regulation 24A of SEBI LODR Regulations, 2015 for the year ended 31.03.2026
IREDA · price
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IREDA has filed its Annual Secretarial Compliance Report for the year ended March 31, 2026. The secretarial auditor, P.C. Jain & Co., found 6 compliance violations, all related to Board composition requirements under SEBI LODR Regulations. The violations occurred because multiple Independent Directors' tenures expired on March 5 and March 27, 2026, leaving the Board below the required composition for Independent Directors, Non-Executive Directors, and minimum director count. The company also failed to meet quorum requirements for a Board meeting on March 30, 2026, and multiple Board committee compositions (Audit, Nomination & Remuneration, Stakeholder Relationship, and Risk Management) became non-compliant. BSE and NSE have imposed fines ranging from Rs. 2,000 to Rs. 10,000 per day for these violations. The company has stated that director appointments are controlled by the Government of India through the Ministry of New and Renewable Energy and that requests for new Independent Director appointments have been made.
These are regulatory compliance violations stemming from government processes rather than deliberate misconduct. While fines are ongoing, IREDA has addressed most issues by appointing Independent Directors (including a Woman Director) from March 6, 2026 onwards. The stock may face minor negative sentiment from non-compliance, though the company is a Government PSU with limited direct shareholding impact.