Submission of Secretarial Compliance Report for the financial year ended 31.03.2026
UNITECH · price
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Unitech Limited has submitted its Secretarial Compliance Report for FY 2025-26 under SEBI Regulation 24A. The report identifies three current compliance violations: (1) Board has only 5 directors against the required minimum of 6 for top 1000 companies, (2) one director aged above 75 years continues without shareholder approval, and (3) no woman director on board after Ms. Uma Shankar's resignation on 07.03.2026. The company states these are beyond its control as all directors are appointed by the Union of India with Supreme Court approval. The report also notes that previous non-compliances from 2019-2024 regarding delayed financial results, shareholding patterns, and related party transaction disclosures have been mostly addressed, with penalties waived by exchanges in September-October 2025.
The company continues to face governance issues that could raise concerns among investors. However, all past penalties have been waived and the company is under Supreme Court-supervised management, which may provide some stability. The pending resolution framework before the Supreme Court remains a key uncertainty.