HEG Limited: Annual Secretarial Compliance Report for FY26
HEG Limited released its Annual Secretarial Compliance Report for FY26, noting compliance with statutory provisions. Certain promoter group members (Nivedan Churiwal, Shubha Churiwal, and Sudha Churiwal) violated insider trading regulations, leading to corrective actions including disgorgement of proceeds to SEBI. The company also addressed and paid fines of ₹1,01,480 related to non-compliance with Regulation 17(1A) of SEBI LODR Regulations.
The disclosure of non-compliance with insider trading regulations by promoter group members and the subsequent corrective actions could have a moderate impact on investor confidence.
The announcement primarily concerns the filing of a compliance report and the disclosure of certain regulatory non-compliances and their remediation.
HEG Limited has released its Annual Secretarial Compliance Report for the financial year ended March 31, 2026. The report, as per Regulation 24A(2) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, was issued by Jain Viney & Associates, Practicing Company Secretaries. The report was submitted in XBRL mode and PDF format on May 1, 2026, via the NEAPS Portal under the Single Filing System. 2015.
The report indicates that HEG Limited has complied with the statutory provisions and adhered to good corporate practices. However, it was observed that certain members of the Promoter Group, namely Mr. Nivedan Churiwal, Ms. Shubha Churiwal, and Ms. Sudha Churiwal, did not comply with the SEBI (Prohibition of Insider Trading) Regulations, 2015, and the Company’s Code of Conduct for Regulating, Monitoring, and Reporting Trading by Insiders, as trades were executed without prior pre-clearance and requisite disclosures were not made within the prescribed timelines. The company took corrective measures, including issuing show cause notices, obtaining disclosures, intimating the Stock Exchanges, directing disposal of shares, disgorgement of proceeds to SEBI, and restricting further trading by the concerned persons. The concerned individuals have deposited the entire proceeds arising from the said transactions into the IPEF account of SEBI.
Additionally, the company addressed non-compliance related to Regulation 17(1A) of the SEBI LODR Regulations, 2015, for which fines of ₹1,01,480 (inclusive of GST) were levied by both BSE and NSE. The company initially filed a waiver application, which was not considered favorably, and subsequently paid the fines on July 1, 2025.
What to do with a filing like this
HEG Limited filed this with the NSE as a statutory disclosure, categorised under secretarial compliance report. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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See the model portfoliosA plain-language summary of a public exchange filing by HEG Limited. Read the original for the full detail.