Revised Annual Secretarial Compliance Report for the year ended March, 2026
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T T Limited filed its Annual Secretarial Compliance Report for FY 2026, revealing two instances of non-compliance with SEBI LODR Regulations. First, Shri Rikhab Chand Jain (aged 75+) was continued as Non-Executive Chairman from April 1, 2025 without prior shareholder approval under Regulation 17(1A), resulting in fines of Rs. 2,14,760 each from NSE and BSE (inclusive of GST), which were subsequently paid and shareholder approval obtained at the September 2025 AGM. Second, the Audit Committee composition violated Regulation 18(1)(b) between May-August 2025, as it had only 3 independent directors out of 5 members (60%) instead of the required two-thirds (67%), prompting an observation (no fine) and subsequent reconstitution with an additional independent director. The report also noted an earlier non-compliance from FY 2022-23 related to board composition following an independent director's demise, with fines paid in December 2024.
The filing indicates governance compliance issues that have been remedied, with fines paid and corrective actions taken. While past non-compliances are resolved, the pattern of governance lapses may concern investors about internal control effectiveness, though the company has demonstrated willingness to rectify issues when flagged by exchanges.