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AL CIRCLE

NALCO reports governance compliance challenges in FY2026 secretarial review

EDITED BY : 2MINS READ

aluminium

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National Aluminium Company Limited has released its Annual Secretarial Compliance Report for the year ended 31st March, 2026 covering compliance of corporate governance and regulatory requirements.

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The report stated that it conducted a detailed review of internal records, statutory filings and governance practices as part of its annual compliance assessment process. 

A key issue highlighted during the review was the company’s inability to consistently maintain the required composition of non-executive and independent directors on its board during certain periods of FY2026.

According to the report, NALCO did not fully meet the requirement for maintaining a board with at least 50 per cent non-executive directors, while the required number of independent directors was also not available during parts of the fiscal year.

Explore: The most comprehensive and forward-looking industry-focused report – Global Bauxite & Alumina Market Forecast to 2036: Supply–Demand, Trade Flows & Price Outlook
 

The situation affected the composition of several important committees, including the Audit Committee, Nomination and Remuneration Committee and Stakeholders Relationship Committee.

NALCO clarified that, as a Government of India enterprise, appointments of directors and independent board members are handled by the central government and are outside the company’s direct control.

The company said it has remained in continuous communication with government authorities regarding the appointment process in an effort to restore full compliance with regulatory requirements.

NALCO also informed stock exchanges that it has submitted representations seeking waiver of fines related to the board composition issues while corrective processes remain underway.

The company stated that it continues to work toward ensuring full alignment with corporate governance and listing regulations.

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