Banco Products (India) Limited has submitted its Annual Secretarial Compliance Report for the financial year ended March 31, 2026. The report, issued by M/s. J.J. Gandhi & Co., Practising Company Secretaries, confirms the company’s compliance with applicable statutory provisions. The review encompassed various regulations including the SEBI Act, SCRA, and specific SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Annual Secretarial Compliance Report Submitted
Banco Products (India) Limited has formally submitted its Annual Secretarial Compliance Report (ASCR) for the financial year that concluded on March 31, 2026. This report is a critical component for listed entities, ensuring adherence to regulatory frameworks and corporate governance standards.
Report Findings
The report, prepared by M/s. J.J. Gandhi & Co., Practising Company Secretaries, indicates that Banco Products (India) Limited has complied with the applicable statutory provisions during the review period. The examination covered a comprehensive range of regulations, including:
- The Securities and Exchange Board of India Act, 1992, and associated regulations, circulars, and guidelines.
- The Securities Contracts (Regulation) Act, 1956 (SCRA), and its associated rules, regulations, circulars, and guidelines.
- Specific SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
- Other relevant SEBI regulations pertaining to capital issuance, substantial acquisitions, share buybacks, employee benefits, non-convertible securities, insider trading, and depositories.
Key Compliance Areas Verified
The secretarial audit specifically reviewed several key areas of compliance, including:
- Secretarial Standards: The listed entity’s compliances were found to be in accordance with applicable Secretarial Standards issued by the Institute of Company Secretaries of India (ICSI).
- Adoption and Updation of Policies: All applicable policies were adopted with Board approval and were in conformity with SEBI Regulations, reviewed, and updated as required.
- Website Maintenance and Disclosures: The entity maintains a functional website with timely dissemination of corporate information, including annual reports and governance reports.
- Director Disqualification: No directors were found to be disqualified under Section 164 of the Companies Act, 2013.
- Subsidiaries: Details related to material and other subsidiaries were examined.
- Preservation of Documents: Records are being preserved as per SEBI Regulations and the Policy of Preservation of Documents.
- Performance Evaluation: Performance evaluation of the Board, Independent Directors, and Committees was conducted as prescribed.
- Related Party Transactions: Prior approval from the Audit Committee was obtained for related party transactions where applicable.
- Disclosure of Events/Information: Required disclosures under Regulation 30 were provided within the prescribed timelines.
- Prohibition of Insider Trading: The entity is in compliance with relevant SEBI regulations.
- SEBI/Stock Exchange Actions: No actions have been taken against the entity, its promoters, directors, or subsidiaries by SEBI or Stock Exchanges.
The report also noted that there were no resignations of Statutory Auditors during the financial year. Furthermore, no additional non-compliances were observed beyond those already reported.
Banco Products (India) Limited has duly filed this report to ensure transparency and regulatory adherence.
Source: BSE
