Annual Secretarial Compliance Report for the financial year ended 31.03.2026
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Panchmahal Steel Ltd has filed its Annual Secretarial Compliance Report for FY 2025-26 with BSE, reviewed by Practicing Company Secretary Niraj Trivedi. The company was found to be largely compliant with SEBI regulations, but one violation was noted: the company failed to maintain the required 2/3rd Independent Directors on its Nomination and Remuneration Committee (NRC) for part of the quarter ending March 31, 2025. BSE imposed fines totaling Rs. 1,32,160 including GST for this breach of Regulation 19(1)(c) of SEBI LODR. The company paid Rs. 1,11,800 to BSE and filed a waiver application, with the outcome still pending. The NRC was reconstituted with proper composition from February 26, 2025, and the company is now fully compliant with all governance requirements.
This was a governance compliance issue that has since been resolved. The pending waiver decision means the final financial impact remains uncertain. Shareholders should note the company has corrected its NRC composition and is now compliant with SEBI regulations.