In compliance to Regulation 24A of SEBI LODR, Secretarial Compliance Report for the FY ended 31.03.2026 is submitted. The details given in the attached letter.
NHPC · price
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NHPC Limited has filed its annual Secretarial Compliance Report for FY 2025-26, prepared by practicing company secretary Akhil Rohatgi & Co. The report identifies ongoing non-compliance with SEBI LODR regulations primarily due to delayed appointment of Independent Directors (including a woman Independent Director) by the Ministry of Power, Government of India — a process outside the company's direct control as a Central PSU. BSE and NSE imposed cumulative fines of approximately Rs. 17.02 lakh each for board composition violations across quarters ended June 2025, September 2025, and December 2025. Some fines under Regulations 18(1) and 19(1) for prior quarters were waived by exchanges after reviewing NHPC's justification. The company's Board and committees (Audit, NRC) remained non-compliant for portions of the year until government appointments were made. The auditor confirms compliance across all other areas including secretarial standards, insider trading norms, related party transactions, and website disclosures.
The ongoing governance non-compliance (board composition, woman director requirement) poses regulatory and reputational risk. However, since the violations stem from government appointment delays — not corporate negligence — and the company has actively pursued remediation, the actual operational impact is limited. Shareholders should monitor whether the Ministry of Power resolves the Independent Director vacancy in upcoming quarters to avoid further fines.