Please find the attached Annual Secretarial Compliance Report for the financial year 2025-26.
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Nicco Parks & Resorts Ltd has submitted its Annual Secretarial Compliance Report for FY 2025-26, reviewed by practicing CS P.V. Subramanian. The report identifies two minor compliance deviations with NIL (zero) fines. First, the company had insufficient Independent Directors on the Board during two periods: April 1 to May 26, 2025, and January 27 to March 31, 2026, due to director retirements and MD appointment. Second, the Managing Director vacancy caused on August 12, 2025, was filled on January 27, 2026, beyond the prescribed 3-month timeline. Both issues have since been addressed. The company is otherwise compliant with SEBI regulations including LODR, PIT, and Depositories regulations. The previous year's similar observation on Independent Directors was already rectified on May 27, 2025.
The non-compliances are procedural in nature with no monetary penalties. The ongoing process to identify suitable Independent Directors indicates governance attention needed, but this is a common issue for mid-sized listed companies. Investors should monitor board composition improvements in upcoming quarters.