Please find enclosed herewith Annual Secretarial Compliance Report of the company for the financial year ended on March 31, 2026.
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Last Mile Enterprises Limited (formerly Trans Financial Resources Limited) has submitted its Annual Secretarial Compliance Report for FY ended March 2026. The report reveals one current non-compliance: RTA details are still not updated on the BSE website. The report also identifies five carry-forward non-compliances including 100% promoter dematerialization not achieved (one promoter still holds physical shares), RTA details not updated on BSE (despite corrective steps), and delays in submitting monitoring agency reports for Q2 September 2024 (1-day), Q3 December 2024 (3-day), and Q4 March 2025 (2-day). The board composition issue (independent directors) has been addressed via appointment of a non-executive chairperson. Most other compliance areas including secretarial standards, policies, website, subsidiaries disclosure, documents preservation, performance evaluation, related party transactions, and insider trading norms show compliance.
The persistent promoter dematerialization issue and repeated monitoring report delays indicate weak internal controls. However, the board independence issue appears resolved. Investors should monitor whether the company rectifies the remaining RTA and demat issues, as these indicate governance gaps.