Intimation for submission of ASCR for FY ended on March 31, 2026.
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Shri Gang Industries submitted its Annual Secretarial Compliance Report for FY 2025-26, certified by Practicing Company Secretary Monika Kohli. The report examined compliance across multiple SEBI regulations including LODR, ICDR, Takeover Regulations, and Insider Trading Regulations. The company achieved compliance on most parameters including secretarial standards, board policies, website maintenance, director disqualification checks, related party transactions, and insider trading norms. However, one deviation was noted under Regulation 31(2) of SEBI LODR — the promoters and promoter group shareholding was 95.71% in dematerialised form as of March 31, 2026, falling short of the 100% requirement. This occurred because 2,50,000 compulsorily convertible preference shares were allotted on March 30, 2026, and the company is in the process of converting remaining physical holdings to dematerialised form.
The non-compliance is a minor technical breach due to procedural delays in dematerialisation of newly allotted shares. It does not indicate fundamental governance issues. The company has taken corrective action by requesting remaining shareholders to convert holdings. Shareholders should note this is a routine compliance report with no material impact on operations.