Please find enclosed Annual Secretarial Compliance Report issued by a practicing company secretary for the financial year ended on 31.03.2026
SADBHIN · price
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Sadbhav Infrastructure Project Limited has filed its Annual Secretarial Compliance Report for the financial year ended March 31, 2026, as required under SEBI Regulation 24A. The report, issued by practicing company secretary Ashish Shah & Associates, examined compliance across multiple SEBI regulations including LODR, PIT, and takeover regulations. The examination found several non-compliances: (1) Board composition under Regulation 17(1) was not met due to director resignations, attracting fines of Rs 2.45 lakh and Rs 3.25 lakh for Q1 and Q2 FY26 respectively; (2) Shareholding pattern filing was delayed by 4 days for June 2025 quarter, fined Rs 8,000; (3) Compliance officer requirements under Regulation 6(1) were not met for three consecutive quarters, resulting in fines of Rs 50,000, Rs 92,000, and Rs 42,000. The company subsequently appointed Siddharth Yasasa as non-executive director and a qualified company secretary as compliance officer to address these gaps.
The filing reveals recurring regulatory non-compliances primarily around board composition and compliance officer requirements, resulting in multiple BSE fines totaling approximately Rs 5.85 lakh. While the company has since appointed the required personnel, these past non-compliances may raise concerns among investors about governance standards.