In compliance to Regulation 24 A of SEBI LODR, the annual secretarial compliance report for financial year ended 31.03.2025 is submitted herewith.
NHPC · price
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NHPC has submitted its Annual Secretarial Compliance Report for FY 2024-25, filed by secretarial auditor Kumar Naresh Sinha & Associates under SEBI LODR Regulation 24A. The report flags non-compliance with board composition rules (Reg 17(1)), audit committee composition (Reg 18(1)(b)), and nomination & remuneration committee composition (Reg 19(1)) due to shortfall of independent directors, including a woman independent director. Both NSE and BSE imposed a fine of Rs 3,18,600 each (inclusive of GST) for 54 days of non-compliance in the quarter ended December 31, 2024, and sought clarifications regarding the quarter ended March 31, 2025. NHPC stated that the non-compliance is beyond its control as director appointments vest with the President of India via the Ministry of Power, and it has repeatedly followed up with the government. All other SEBI compliance areas, including secretarial standards, insider trading, related party transactions, and disclosures, were found to be in order.
This is a routine regulatory filing, but it highlights an ongoing governance issue where NHPC's board lacks the required number of independent directors, attracting repeated stock exchange fines. Investors should note that the fines are relatively small and NHPC attributes the gap to delays by the Government of India in appointing directors, which is common for public sector companies. No material impact on operations or shareholder value is indicated.