Annual Secretarial Compliance Report for the financial year ended March 31, 2026
NBCC · price
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NBCC (India) Ltd has submitted its Annual Secretarial Compliance Report for FY 2025-26, examined by Practicing Company Secretaries M/s Agarwal S. & Associates. The report identifies non-compliances under Regulations 17 and 18-21 of SEBI (LODR) Regulations, 2015, primarily relating to Board and Committee composition. For FY 2025-26, NSE and BSE levied cumulative fines of approximately Rs. 16.22 lakh for Regulation 17 violations (Q1-Q3) and approximately Rs. 12.75 lakh for Regulations 18-21 violations (Q1-Q3). The non-compliance stemmed from delays in appointing Independent Directors on the Board and its Committees during April-May 2025, after prior Independent Directors' tenures ended in November 2024. As a Government Company, NBCC's director appointments are made by the Ministry of Housing and Urban Affairs (MoHUA). Three Independent Directors (including a woman director) were subsequently appointed, and all Board Committees were reconstituted with requisite Independent Directors from May 16, 2025. Other areas including Secretarial Standards, Insider Trading norms, Related Party Transactions, and website disclosures were found in compliance.
The filing confirms ongoing regulatory scrutiny on NBCC's corporate governance due to delayed Independent Director appointments. While fines were imposed for FY 2025-26 Q1-Q3, the situation has been remedied post-May 2025 with full Board and Committee reconstitution. The stock is listed on NSE and BSE (Script Code: 534309).