Annual Secretarial Compliance Report for the Financial Year ended March 31, 2026.
JAYBARMARU · price
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Jay Bharat Maruti Limited has submitted its Annual Secretarial Compliance Report for FY 2025-26, prepared by Practicing Company Secretary Sunita Mathur. The company has largely complied with applicable SEBI regulations with one deviation: it failed to include 'Fund Raising' in a prior intimation to stock exchanges about a Board Meeting (Regulation 29(2) of SEBI LODR), resulting in a combined fine of Rs. 23,600 (Rs. 11,800 each from NSE and BSE, inclusive of GST), which the company has paid. Additionally, a Related Party Transaction with the JBM Group Gratuity Trust exceeded the Audit Committee's omnibus approval limit by Rs. 33 lakh during Q4 due to new labour code amendments affecting gratuity liability — this was ratified by the Audit Committee on May 19, 2026. On the board front, Mr. Rajiv Gandhi (MSIL Nominee Director) resigned and was replaced by Mr. Sunil Kumar Kakkar, with shareholder approval obtained via postal ballot.
The regulatory fine of Rs. 23,600 is minor and already paid. The RPT excess of Rs. 33 lakh, though subsequently ratified, signals a control gap in monitoring related party transaction limits. The board change at the MSIL nominee level is routine and not a concern. Overall, the company maintains good compliance health for a listed entity.