IFB Industries Limited has submitted its Annual Secretarial Compliance Report for the financial year ending March 31, 2026. This report, prepared by M/s. Patnaik & Patnaik, Company Secretaries, confirms the company’s adherence to various SEBI regulations and guidelines. The document details compliance status across several key areas, including Secretarial Standards, policy updation, website maintenance, director qualifications, and insider trading regulations, indicating overall satisfactory compliance.
IFB Industries Ltd. Submits Annual Secretarial Compliance Report
IFB Industries Limited has officially submitted its Annual Secretarial Compliance Report for the financial year that concluded on March 31, 2026. The report was prepared by the external firm M/s. Patnaik & Patnaik, Company Secretaries, following a thorough examination of the company’s records and submissions.
Compliance Overview
The report confirms that IFB Industries Limited has largely complied with the applicable regulations and circulars issued by SEBI. The examination covered various critical aspects of corporate governance and regulatory adherence. This submission is a routine requirement to ensure transparency and compliance with the Securities and Exchange Board of India (SEBI) guidelines.
Key Areas of Review
The Secretarial Compliance Report detailed the company’s adherence to several significant requirements:
- Secretarial Standards: The company’s compliances are in accordance with the applicable Secretarial Standards (SS) issued by the Institute of Company Secretaries India (ICSI).
- Policy Adoption and Updates: All applicable policies under SEBI Regulations have been adopted with Board approval and are in conformity with SEBI regulations, having been reviewed and updated as required.
- Website Maintenance: The company maintains a functional website with timely dissemination of documents and accurate web-links for corporate governance reports.
- Disqualification of Directors: No director of the listed entity is disqualified under Section 164 of the Companies Act, 2013.
- Subsidiary Compliance: Details related to subsidiaries, including identification and disclosure of material subsidiaries, have been examined.
- Preservation of Documents: The company is preserving and maintaining records as prescribed by SEBI Regulations and its own policies.
- Performance Evaluation: The board and committee performance evaluations were conducted as required by SEBI Regulations.
- Related Party Transactions: All related party transactions entered into during the review period were duly approved by the Audit Committee.
- Disclosure of Events: The company has provided all required disclosures under SEBI LODR Regulations within the prescribed timelines.
- Prohibition of Insider Trading: IFB Industries Limited is in compliance with the SEBI (Prohibition of Insider Trading) Regulations, 2015.
- SEBI/Stock Exchange Actions: No adverse actions have been taken against the company or its promoters/directors by SEBI or Stock Exchanges during the review period.
- Statutory Auditors: There was no resignation of statutory auditors from the listed entity or its material subsidiaries during the period under review.
The report concluded that there were no additional non-compliances observed for any SEBI regulation, circular, or guidance note, other than what was explicitly stated within the report.
Assumptions and Limitations
The report also outlined assumptions and limitations, emphasizing that the responsibility for compliance and the authenticity of information lies with the management of IFB Industries Limited. The review by Patnaik & Patnaik was not an audit and did not involve verification of the correctness of financial records. The report serves the specific purpose of compliance with Regulation 24A(2) of the SEBI (LODR) Regulations, 2015.
Source: BSE
