Bharat Heavy Electricals Limited has released its Annual Secretarial Compliance Report for the fiscal year ended March 31, 2026. The report details the company’s commitment to corporate governance and transparency. While the company maintained adherence to the majority of standards, the document highlights specific observations regarding board composition and audit committee structures, emphasizing that these instances were primarily due to pending government appointments, rather than internal administrative lapses.
Commitment to Corporate Governance
In accordance with statutory reporting requirements, the company has provided a comprehensive review of its compliance performance for the financial year ending March 31, 2026. The review, conducted by independent practitioners, assessed adherence to various corporate governance norms, including policy updates, website disclosures, and the maintenance of essential records.
Addressing Board and Committee Composition
The report outlines specific observations regarding the composition of the Board and key committees, including the Audit Committee and the Nomination and Remuneration Committee. Due to gaps in the number of independent directors during certain periods in the fiscal year, temporary non-compliance was noted. The management clarified that these vacancies were not due to negligence, but rather result from the appointment process for directors, which lies solely with the Government of India.
Ongoing Remedial Efforts
The company maintains active and constant communication with the relevant government authorities to ensure that all board and committee positions are filled as required by governance standards. The firm has formally requested a waiver for fines imposed by stock exchanges during the period of non-compliance, citing that the delay in board appointments is outside the company’s direct control. Moving forward, the company remains dedicated to upholding high governance standards while awaiting the necessary government-led appointments to restore full structural alignment.
Source: BSE
