Annual Secretarial Compliance Report FY 2024-25
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Indraprastha Gas Limited (IGL) filed its Annual Secretarial Compliance Report for the year ended March 31, 2025, prepared by practicing company secretary Agarwal S. & Associates. The report flags one non-compliance under SEBI LODR Regulation 17(1)(a) and 17(1)(b) — IGL did not have enough independent directors (at least half) and lacked the required woman independent director during part of the year. NSE and BSE levied fines of about Rs. 3.72 lakh and Rs. 2.71 lakh each (inclusive of GST) for the quarters ended June 2024 and September 2024 respectively. IGL fixed the issue by appointing two independent women directors in May 2024 and two more independent directors on August 16, 2024, after which its board became fully compliant. The report also noted one related-party transaction that missed prior audit committee approval but was later ratified.
The fines are small relative to IGL's overall size, have already been paid, and the board composition issue has been fully resolved since August 2024. This is a routine regulatory compliance disclosure with no material impact on shareholders or the stock price.