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Premier Energy and Infrastructure Ltd has filed its Annual Secretarial Compliance Report for the year ended March 31, 2026, certified by Sridharan & Sridharan Associates, Company Secretaries. The report identifies several compliance deviations during the period from September 30, 2024 to October 16, 2024: the company had inadequate Independent Directors, resulting in improperly constituted Board, Nomination & Remuneration Committee, and Audit Committee. Fines totaling Rs. 2,54,880 (including GST) were imposed by BSE for these violations. Additionally, there was a delay in disclosing the Statutory Auditor's resignation to the exchange, and the limited review report for Q2 FY25 was issued by the newly appointed auditor instead of the erstwhile auditor, violating SEBI regulations. The company subsequently appointed a new Independent Director from October 17, 2024, restoring compliance. All other compliance areas including Secretarial Standards, Insider Trading, RPTs, and website disclosures were found satisfactory.
The compliance gaps and fines, while corrected, indicate governance weaknesses during September-October 2024. Shareholders should note that the company faced regulatory penalties and exchange warnings, though the situation was remedied. No material ongoing non-compliance is reported for FY 2025-26.