Annual Secretarial Compliance Report for the year ended March 31, 2026
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iStreet Network Limited has submitted its annual secretarial compliance report for FY2026, audited by practicing company secretary Jigar Darji & Associates. The report reveals three compliance violations: two instances of failing to meet SEBI LODR compliance deadlines (fines of Rs 1,180 and Rs 2,360), and non-compliance with Regulation 31A regarding promoter/promoter group reclassification requirements, which attracted a significant fine of Rs 4,66,100 from BSE. The company has received a total penalty of Rs 4,69,640 and has applied to BSE for waiver of the larger promoter reclassification penalty. Most other compliance areas including secretarial standards, website disclosures, insider trading norms, and related party transactions are marked compliant.
The compliance penalties, particularly the Rs 4.66 lakh fine for promoter reclassification non-compliance, indicate governance weaknesses. The company's waiver application for the major penalty suggests ongoing regulatory negotiations. These issues, while not critical, reflect execution gaps in regulatory compliance that investors should monitor.