Annual Secretarial Compliance Report for the year ended 31st March, 2026
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Zenith Exports Ltd has submitted its Annual Secretarial Compliance Report for FY 2025-26, examined by Practicing Company Secretary Vivek Mishra (M & A Associates). The report identifies one deviation: the company failed to comply with Regulation 17(1) of SEBI LODR regarding minimum Board composition of six directors. NSE and BSE imposed a fine of Rs. 3,95,300 on the company. The company clarified that the vacancy was inadvertent and appointed Priyanka Poddar and Subhajeet Kar as Non-Executive Independent Directors on 6th March 2026, restoring compliance. A waiver application for the fine was filed with the exchanges. Additionally, two prior year observations regarding delayed filings by promoters (Regulation 10(5) and 31(4) of SEBI SAST) were addressed, with no further remarks received from exchanges.
The Board composition issue has been rectified with new director appointments, reducing ongoing compliance risk. The fine of Rs. 3.95 lakh remains pending pending exchange decision on the waiver application. Overall, the company demonstrated good faith by promptly correcting the violation and addressing prior year observations.