Annual Secretarial Compliance Report for the year ended March 31, 2026
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Nilachal Refractories Ltd has submitted its Annual Secretarial Compliance Report for FY 2025-26, audited by Practicing Company Secretary Twinkle Agarwal. The company has largely complied with SEBI regulations, with two notable exceptions. First, the company delayed appointing a Company Secretary and Compliance Officer after Mr. Sanjib Singh's resignation on September 30, 2023, with Mr. Ashish Kumar only appointed on February 22, 2024—exceeding the prescribed timeframe and resulting in a Rs. 52,000 fine from BSE. Second, the company filed its Annual Secretarial Compliance Report for FY 2023-24 in XBRL format on June 18, 2024, beyond the stipulated deadline (after filing in PDF format on May 23, 2024), incurring a Rs. 44,840 fine. Both fine applications for waiver were rejected by BSE, and the company paid both penalties. All other compliance areas including secretarial standards, policies, website disclosures, director disqualifications, document preservation, performance evaluations, related party transactions, and insider trading norms were found satisfactory.
The two regulatory fines are minor administrative lapses that have already been paid. For shareholders, there is no material concern as the company has cleared all penalties and maintains compliance across key regulatory requirements. The stock is listed on BSE (scrip 502294) and CSE (scrip 019120).