Annual Secretarial Compliance Report for the period ended 31st March, 2026.
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SBEC Systems India Ltd has submitted its Annual Secretarial Compliance Report for FY 2025-26, reviewed by Practicing Company Secretaries M/s Soniya Gupta & Associates. The review covered compliance with SEBI regulations including LODR, SAST, and PIT regulations. Two deviations were noted: (1) promoter dematerialization stands at only 60% instead of the required 100% as per SEBI circular, linked to a dissolved UK promoter entity; and (2) a Rs. 2,360 penalty was imposed by BSE for late submission of shareholding pattern, which has been paid. The report also details resolution of a legacy SEBI matter where the Supreme Court directed an open offer for SBEC Sugar Limited, which was successfully completed on 9th January 2026. A selective capital reduction scheme is pending before NCLT with the next hearing on 13th July 2026. All other compliance parameters including secretarial standards, board processes, related party transactions, and insider trading norms were found satisfactory.
The filing reveals no material compliance failures. The promoter demat shortfall is a legacy issue being addressed via NCLT-approved capital reduction, and the penalty was trivial. The completed open offer resolves a long-standing SEBI dispute, which is positive for governance standing.