Tai Industries Limited submitted a corrigendum to its Annual Report for the Financial Year 2025-26 to the Bombay Stock Exchange and Calcutta Stock Exchange on 2nd September 2026. The submission was made pursuant to SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The corrigendum was issued to rectify an inadvertent omission in the originally circulated Annual Report dated 27th August 2026. The specific omission was the Secretarial Audit Report in Form MR-3 for the financial year ended 31st March 2026, issued by T. Chatterjee & Associates.

The Form MR-3 is now provided as Annexure F to the Board's Report and should be read in conjunction with the original Annual Report. All other contents, terms, and details of the Annual Report and Notice of AGM remain unchanged.

Secretarial Audit Report Findings

The secretarial audit conducted by T. Chatterjee & Associates (FRN No. P2007WB067100) covered the financial year ended 31st March 2026 and examined compliance with:

  • The Companies Act, 2013 and rules made thereunder
  • The Securities Contracts (Regulation) Act, 1956 and rules made thereunder
  • The Depositories Act, 1996 and Regulations/Bye-laws framed thereunder
  • Foreign Exchange Management Act, 1999 (FDI, ODI, and ECB aspects)
  • Various SEBI Regulations including Takeovers, Insider Trading, ICDR, LODR, and others
  • Various sector-specific laws including Food Safety and Standards Act, 2006; Pollution Control Act; Labor laws

Non-Compliances Identified

1. Regulation 31(2) of SEBI(LODR) Regulations, 2015: 1,216,000 equity shares held by promoters remain in physical form, though exempted under SEBI Circular No.SEBI/CIR/ISD/1/2012 dated March 30, 2012, Clause 3(c)

2. Regulations 3(5) and 3(6) of SEBI (Prohibition of Insider Trading) Regulations, 2015: BSE has marked the company as "SDD non-compliant" on its website

3. Secretarial Standards: Certain clauses of Secretarial Standard SS-1 (Meetings of Board of Directors) were not complied with

4. Regulatory Filings: Some forms, returns, documents and resolutions were filed with the Registrar of Companies with delays

5. Board Processes: The limited review report was placed before the Board but not mentioned in the minutes

6. Pending Application: The company is yet to make an application for adjudication of delay before ROC, West Bengal regarding the appointment of Mr. Dasho Wangchuk Dorji as Wholetime Director for the period 20-05-2022 to 19-05-2025, as directed by the Central Government (Reference SRN AA4713614/2023-CL-VII dated 04-06-2025)

Additional Observations

The audit noted that adequate systems and processes are not adequately in place to monitor and ensure compliance with applicable laws, rules, regulations and guidelines commensurate with the company's size and operations.

All Board and Committee meetings during the review period were conducted virtually through video conferencing.

The Board was duly constituted with proper balance of Executive, Non-Executive, and Independent Directors including a Women Independent Director. Mr. Rohan Ghosh (Managing Director) and Dasho Wangchuck Dorji (Whole Time Director) were reappointed after expiry of their terms with retrospective effect.

Authentication

The corrigendum and secretarial audit report were digitally signed by Snigdha Khetan, Company Secretary & Compliance Officer (Membership No: 55079) on 02.09.2026. The secretarial audit report was signed by CS. Indrani Chaudhuri, Partner (ACS:8739, COP: 6667) of T. Chatterjee & Associates on 28-05-2026.

Availability

The corrigendum is available on the company's website at https://www.taiind.com/annual-reports.html