Submission of Annual Secretarial Compliance Report
RAILTEL · price
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RailTel Corporation of India Ltd, a Navratna PSU under the Ministry of Railways, submitted its Annual Secretarial Compliance Report for FY25 to BSE and NSE on May 23, 2025, prepared by M/s ASKBN & Co., Company Secretaries. The report flags non-compliance with SEBI LODR Regulations 17(1), 18(1), 19(1)/19(2), 20(2)/(2A) and 21(2) due to the absence of an adequate number of independent directors, including a woman independent director, on the Board. BSE and NSE levied fines totalling around INR 61.59 lakh across four quarters of FY24 and early FY25 for this laps. The company has now appointed two independent directors (including one woman director) on April 15, 2025 and May 13, 2025. Apart from this, the company is largely compliant with SEBI regulations, secretarial standards, insider trading norms, and disclosure requirements.
The board composition issue is now being remediated with the recent appointment of independent directors, which should help waive or stop future fines. Minor negative overhang from past penalties but no material impact on financials or operations; largely a procedural compliance disclosure for shareholders.