RCF · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Rashtriya Chemicals and Fertilizers, a Government of India undertaking under the Ministry of Chemicals and Fertilizers, filed its Annual Secretarial Compliance Report for the year ended March 31, 2026. The report reveals multiple SEBI compliance violations primarily due to the absence of Independent Directors from November 2024 to May 8, 2025. Key deviations included: inadequate board composition (less than 50% non-executive directors), missing independent woman director, insufficient Independent Directors, and non-compliant Board quorum, Audit Committee, NRC, SRC, and RMC. Both BSE and NSE imposed cumulative fines totaling approximately Rs. 21.7 lakh across quarters (Q1 FY25 to Q4 FY25). The company remedied all violations by appointing three Independent Directors (including one woman) on May 9, 2025, with committees reconstituted by May 19, 2025. However, one more Independent Director appointment is still pending.
The company faced regulatory penalties for governance non-compliance but has since regularized its position. For shareholders, the key takeaway is that governance compliance was restored after May 2025 following government appointments. The ongoing delay in filling the remaining Independent Director position remains a minor concern.