ORISSAMINE · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
The secretarial compliance report confirms the company is largely compliant with SEBI regulations but identifies several areas needing improvement. The company has a functional website but with delays in timely disclosure of corporate governance reports. Secretarial standards are being followed but there is scope to strengthen systems. Policy updation has been delayed. No directors are disqualified and no subsidiaries exist. However, the annexure reveals accumulated fines from NSE totaling approximately Rs 69.87 lakhs (including GST) for multiple compliance failures across FY 2025-26 and previous years. These include delays in quarterly financial results adoption (ranging from 16 to 92 days), insufficient independent directors on the Board, and inadequate composition of Board Committees (Audit, Nomination, Remuneration, Stakeholder Relationship). Management states delays occurred due to government appointment processes for Independent Directors (the company is under Government of India/Ministry of Steel) and technical reasons.
The accumulated fines indicate recurring compliance failures that could attract regulatory action or reputational risk. Delayed financial result filings may affect investor confidence. The company is following up with Government for appointment of Independent Directors to address Board composition issues.