Ashoka Buildcon Limited has submitted its Secretarial Compliance Report for the financial year ended March 31, 2026. The report, prepared by Sharma and Trivedi LLP, confirms compliance with various SEBI regulations, including Listing Obligations and Disclosure Requirements. It details the company’s adherence to corporate governance norms, policy updates, website maintenance, and other statutory requirements. The report also notes the issuance and redemption of Non-Convertible Debentures during the review period.
Ashoka Buildcon Releases Secretarial Compliance Report
Ashoka Buildcon Limited has officially released its Secretarial Compliance Report for the financial year ending March 31, 2026. This report, mandated under Regulation 24A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, has been prepared by M/s. Sharma and Trivedi LLP, Company Secretaries.
Key Compliance Areas Highlighted
The report confirms that Ashoka Buildcon Limited has largely complied with the applicable provisions of the SEBI Act and various regulations, including:
- The Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015
- The Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018 (Not Applicable)
- The Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011
- The Securities and Exchange Board of India (Buyback of Securities) Regulations, 2018 (Not Applicable)
- The Securities and Exchange Board of India (Share Based Employee Benefits and Sweat Equity) Regulations, 2021 (Not Applicable)
- The Securities and Exchange Board of India (Issue and Listing of Non-Convertible Securities) Regulations, 2021
Financial Instrument Compliance
Specifically concerning the issuance and listing of Non-Convertible Securities, the report notes that Ashoka Buildcon Limited issued 3 different Series of rated, listed, Non-Convertible Debentures (NCDs) of ₹100 Crores each, aggregating to ₹300 Crores in November 2024. These NCDs were fully redeemed in April 2026.
The company also issued Commercial Papers (CPs) in various tranches during FY 2026. The report lists the debt instruments, their dates of issue, amounts, and dates of redemption maturity, indicating timely management of these financial obligations.
Other Compliance Details
The report further details the company’s compliance with other significant areas, including:
- Adoption and timely updation of policies as per SEBI Regulations.
- Maintenance of a functional website and timely dissemination of information.
- Preservation of documents as prescribed under SEBI Regulations.
- Performance evaluation of the Board and its committees.
- Related Party Transactions, with prior approval of the Audit Committee obtained.
- Disclosure of events or information under Regulation 30.
- Compliance with Prohibition of Insider Trading Regulations.
Observations and Actions
The report indicates that the listed entity has complied with the provisions of the above regulations, except in respect of a specific matter. An observation was made regarding a delay in the submission of the statement, along with the Quarterly Results, indicating the utilization of issue proceeds from NCDs issued during the Quarter December 2024. The company is yet to receive approval of waiver from BSE Limited for the associated fine.
The Practicing Company Secretaries noted that this delay was in the first quarter after the NCD issue, attributed to an oversight, and assured that timely compliance would be ensured in subsequent quarters. They have also indicated that the company has submitted an application for waiver of the fine levied on account of this delay.
Assumptions and Limitations
The report is based on the examination of documents and information provided by the management of Ashoka Buildcon Limited. It confirms that compliance with applicable laws and authenticity of information are the responsibilities of the management. The report clarifies that it is not an audit and does not express an opinion on the financial records or the future viability of the company.
Source: BSE
