Mishra Dhatu Nigam Limited has released its Annual Secretarial Compliance Report for the financial year ended March 31, 2026. The report, prepared by independent company secretaries, highlights the company’s commitment to governance while noting specific deviations regarding board composition and committee structures during the period. As a government-controlled entity, the company continues to work with the relevant administrative ministry to address these compliance requirements and manage administrative directives effectively.
Governance and Compliance Overview
The company has submitted its compliance status for the 2025-26 fiscal year, affirming adherence to most required standards. Throughout the review period, the company maintained a functional website, ensured timely dissemination of information, and confirmed that no directors were disqualified under the Companies Act. These efforts reflect an ongoing commitment to transparency and regulatory alignment despite specific operational challenges during the year.
Addressing Board and Committee Composition
The report identifies instances where the company did not meet the mandatory thresholds for the number of Independent Directors on its board and committees, including the Audit, Nomination and Remuneration, Stakeholders Relationship, and Risk Management Committees. These deviations were largely concentrated in the first quarter of the financial year. As a government entity, the appointment of directors is governed by the Ministry of Defence, and the company has consistently engaged with the ministry to expedite these appointments.
Financial and Operational Context
Regarding the fines imposed by stock exchanges for these non-compliances, the company has clarified that it has not made any payments. Instead, it has submitted formal fine waiver requests in line with established policy and standard operating procedures. The company maintains that as a government-controlled entity, it operates under specific administrative frameworks regarding board appointments, and it continues to pursue a resolution for the cited administrative gaps.
Source: BSE
