Setco Automotive Limited has informed the Exchange about General Updates
SETCO · price
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Setco Automotive Limited received warning letters from both BSE (dated January 6, 2026) and NSE (dated January 7, 2026) for failing to hold a meeting of the Nomination and Remuneration Committee during the financial year 2024-25, which violates Regulation 19(3A) of SEBI's Listing Obligations and Disclosure Requirements (LODR) Regulations. This requirement mandates that the Nomination and Remuneration Committee meet at least once in every financial year. The company has acknowledged the lapse and stated it has begun immediate corrective measures to ensure future compliance and prevent recurrence. The company has committed to strengthening its internal compliance monitoring systems to uphold corporate governance standards.
This is a relatively minor governance lapse with no direct financial penalty or business impact. However, it signals weak compliance oversight at the board level, which may concern governance-focused investors. Future non-compliance could lead to stricter action from the exchanges, potentially including fines or other regulatory measures.