Annual Secretarial Compliance for the Financial Year 2025-26
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Nandan Denim Ltd submitted its Annual Secretarial Compliance Report for the financial year ended March 31, 2026, prepared by Practicing Company Secretary J.D. Khatnani & Associates. The report identifies one non-compliance: the company continued Mr. Ambalal C. Patel's directorship without proper stock exchange approvals, as he had attained age 75 years (born April 1, 1944). A fine of Rs. 84,000 each was imposed by BSE and NSE (total Rs. 1,68,000). The company applied for waiver but was rejected, and subsequently paid the penalty. The appointment was later regularized through shareholder approval at the 31st AGM held on September 17, 2025. Additionally, a prior year observation regarding a 225-day gap between Risk Management Committee meetings was noted, with SEBI issuing a warning letter. The company has since taken remedial actions including providing meeting calendars to directors. All other compliance areas were marked as satisfactory.
The non-compliance was procedural in nature and has been addressed through penalty payment and subsequent regularization of the director's appointment. This filing should not have a significant negative impact on the stock, as the issues were inadvertent administrative errors that have been corrected. However, investors should note the company's history of compliance lapses in board meeting schedules.