Usha Martin Limited has released its Annual Secretarial Compliance Report for the financial year ended March 31, 2026. The report, certified by MKB & Associates, confirms the company’s adherence to all relevant statutory provisions and corporate governance standards. The review validates that the company maintained full compliance throughout the year, ensuring transparent operations and accurate disclosures in line with market requirements.
Compliance Performance Overview
The secretarial audit conducted for the financial year ended March 31, 2026, demonstrates that Usha Martin Limited has maintained high standards of corporate governance. The independent review confirmed that the company has effectively complied with all applicable statutory provisions, circulars, and guidelines throughout the reporting period. No instances of non-compliance were identified, and all policies were found to be in full conformity with board-approved standards.
Corporate Governance Highlights
Key operational aspects reviewed during the audit include the maintenance of a functional website, timely dissemination of corporate information, and the preservation of essential records. The report confirms that the company’s board-level evaluations, audit committee oversight for related party transactions, and disclosure protocols are fully aligned with the requirements. Furthermore, there were no reported resignations of statutory auditors, and no adverse actions were initiated against the company, its directors, or its subsidiaries during the review period.
Clarification on Share Capital Reporting
The report includes a disclosure regarding a minor technical discrepancy in the company’s share capital records. The total issued and paid-up share capital remains inflated by 230 equity shares, a situation resulting from an erroneous electronic transfer to the Investor Education & Protection Fund (IEPF) during a corporate action in September 2020. Usha Martin Limited, along with its registrars, continues to actively coordinate with the relevant authorities to finalize the necessary rectification of these records.
Source: BSE
