Bharat Forge Limited has released its Annual Secretarial Compliance Report for the financial year ended March 31, 2026. The review, conducted by M/s. SVD & Associates, confirms that the company has largely adhered to statutory requirements and corporate governance standards. While the company maintained robust compliance, it identified one procedural delay related to the intimation of record dates for non-convertible debentures, which has since been resolved through internal process improvements and payment of the associated fine.
Compliance Overview
The company engaged independent practicing professionals to review its compliance with statutory provisions and corporate practices for the fiscal year ending March 31, 2026. The comprehensive audit included an examination of company filings, website disclosures, and internal governance records to ensure alignment with prevailing standards.
Details of Procedural Non-Compliance
During the review period, a minor procedural deviation was noted regarding the timeline for providing advance notice of record dates for interest payments on Non-Convertible Debentures (NCDs). The management confirmed that this was an inadvertent oversight in computing working days and did not result in any delay in the actual disbursement of interest to investors. As a result of this technical non-compliance, a fine of INR 11,800 was levied, which the company has duly paid. To prevent recurrence, the management has implemented strengthened internal tracking and notification processes.
Governance and Remedial Actions
The audit highlighted the company’s commitment to correcting past imbalances. Regarding the previously reported shortfall in the number of Independent Directors during late 2024, the report confirms that the board composition was successfully restored to mandated levels by December 30, 2024. The company continues to maintain a functional and transparent website, ensures the timely disclosure of all material events, and adheres to strict standards regarding related party transactions and secretarial documentation.
Source: BSE
