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 filed its annual secretarial compliance report for FY 2025-26. The secretarial auditor (P.C. Jain & Co.) found non-compliance with board composition regulations due to the completion of tenure of Independent Directors on 05.03.2026 and 27.03.2026. This caused temporary violations of Regulations 17(1), 17(2A), 18(1), 19(1) and (2), 20(2) and (2A), and 21(2) relating to Board composition, quorum requirements, and various committee compositions. Fines were imposed by both BSE and NSE. The company subsequently appointed the required Independent Directors (including Independent Woman Director) w.e.f. 06.03.2026 and achieved compliance with most requirements by 28.03.2026. IREDA is a government company where director appointments require approval from the Ministry of New and Renewable Energy (MNRE).
The violations relate to a temporary period when independent directors' tenures expired before replacements could be appointed, a common issue for government companies. While fines were imposed, the company has since regularized its board composition. The report confirms no additional non-compliances were found beyond the board composition issues.