Annual Secretarial Compliance Report for FY 2025-26

NMDC Ltd has filed its Annual Secretarial Compliance Report for FY 2025-26 (ending 31 March 2026), issued by D. Hanumanta Raju & Co., Company Secretaries. The report identifies several regulatory non-compliances related to board composition. The company lacks the requisite number of Independent Directors (including one Independent Woman Director) as required under SEBI LODR Regulation 17(1). Due to this, multiple board committees—the Audit Committee, Nomination & Remuneration Committee, Stakeholders Relationship Committee, and Risk Management Committee—were not properly constituted during parts of FY 2025-26. Additionally, the gap between two Risk Management Committee meetings exceeded 210 days as mandated by Regulation 21(3C). BSE and NSE have imposed cumulative fines totaling approximately Rs. 35.4 lakh each including GST for these non-compliances across multiple quarters. The company attributes these issues to delays in appointment of Independent Directors by the Ministry of Steel (Government of India), as Director appointments are governed by Article 74(b) of the Articles of Association.