Annual Secretarial Compliance Report for the Financial Year ended 31st March, 2026.
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Prime Industries Ltd has submitted its Annual Secretarial Compliance Report for FY 2025-26 under SEBI LODR Regulation 24A. The report identifies three non-compliances: (1) delayed submission of Annual Report by 1 day due to an RTA technical issue, attracting a penalty of Rs 2,360; (2) non-compliance with board composition requirements under Regulation 17(1) due to restructuring, with a penalty of Rs 3,00,900 (now resolved after director resignation); and (3) delayed CFO appointment by 6 days beyond the prescribed timeline. All penalties have been paid, and the company has since achieved compliance on all three issues. The company otherwise maintains compliance with SEBI regulations on secretarial standards, policies, website disclosures, director disqualification, subsidiary disclosures, document preservation, performance evaluation, related party transactions, event disclosures, and insider trading norms.
The filing reveals minor regulatory non-compliances that have been addressed with penalties paid. The stock is unlikely to see significant negative impact as the company has demonstrated corrective action. However, the Rs 3 lakh penalty for board composition issues indicates governance gaps during restructuring that investors should monitor.