It is to inform the Annual Secretarial Compliance of the Corporation dated May 21, 2026 has been issued by the Secretarail Auditors of the Corporation for FY ended March 31, 2026
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LIC has filed its Annual Secretarial Compliance Report for FY ended March 31, 2026, as required under SEBI Regulation 24A. The secretarial auditors verified compliance across multiple SEBI regulations including LODR, Takeover Regulations, Insider Trading Regulations, and others. Two deviations were noted: (1) Ms. Anjuly Chib Duggal ceased as Independent Woman Director on January 28, 2026, leaving the board without one, though SEBI granted a 6-month exemption till July 28, 2026; (2) The AGM notice for appointing M/s Mukund M. Chitale & Co as Joint Statutory Auditors did not disclose the proposed fees of Rs 51.37 lakh. All other 13 compliance areas in Annexure-B showed full compliance including secretarial standards, policies, website disclosures, RPTs, and insider trading norms.
The non-compliance items are minor procedural gaps rather than financial or operational issues. SEBI's exemption for the board composition issue provides temporary relief. The auditor fee disclosure gap is administrative and unlikely to materially impact shareholders or stock price.