Secretarial Compliance Report for the financial year ended 31st March, 2026
WEBELSOLAR · price
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Websol Energy System Limited submitted its Annual Secretarial Compliance Report for FY 2025-26, conducted by Practicing Company Secretary Mr. Abhijit Majumdar. The report reveals multiple non-compliances including delayed filings for Investor Grievance Report (1 day delay, Rs. 2,000 fine) and Integrated Corporate Governance Report (1 day delay, Rs. 4,000 fine). More significantly, the company has persistent non-compliance with Board composition requirements under Regulation 17(1), lacking an optimal combination of Executive and Non-Executive Directors and failing to appoint at least one Independent Director. The Audit Committee and Nomination & Remuneration Committee also lack Independent Director representation. Both NSE and BSE have imposed fines totaling approximately Rs. 23.26 lakh for these governance failures across multiple quarters.
The recurring board composition issues and repeated delayed filings signal weak corporate governance practices. Shareholders should be concerned as the company has been fined over Rs. 23 lakh by stock exchanges for non-compliances spanning several quarters, indicating systemic governance deficiencies that could affect investor confidence.