Secretarial Compliance Report for the year ended March 31, 2026
SUBEXLTD · price
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Subex Ltd has filed its Secretarial Compliance Report for FY 2025-26 with V. Sreedharan & Associates, Company Secretaries. The report reveals two compliance violations: (1) The Nomination and Remuneration Committee included an Executive Director for 86 days between September 30 and December 24, 2025, violating Regulation 19(1)(b), resulting in fines of Rs. 1.72 lakhs each from BSE and NSE; (2) The Board had fewer than 6 directors from December 30, 2025 to March 24, 2026, violating Regulation 17(1), with fines of Rs. 10,000 each from BSE and NSE. Both violations occurred after three directors unexpectedly ceased office on September 29, 2025. The company has since reconstituted its Board and NRC with three new appointments by March 25, 2026, restoring full compliance. The company has filed waiver applications for the fines imposed.
Minor regulatory impact. The compliance violations were due to unforeseen director resignations and have been rectified. Fines are relatively small (total Rs. 3.54 lakhs from each exchange), and waiver applications are pending. Board reconstitution is now complete, which should prevent similar issues going forward.