ATN International Limited has submitted its Annual Secretarial Compliance Report for the financial year ended March 31, 2026, revealing multiple instances of non-compliance with SEBI regulations. The report, issued by Ankita Goenka & Associates, highlights delays in statutory filings and lapses in information disclosure to the stock exchanges. The company is currently addressing these gaps, including the vacancy in the position of Compliance Officer following the death of the previous incumbent.

Compliance Gaps and Delays

The audit identified significant delays in the submission of financial and governance documents. Specifically, the company delayed the submission of the Related Party Transactions (RPT) disclosure for the half year ended September 30, 2025, under Regulation 23(9) of the SEBI (LODR) Regulations, 2015. Furthermore, the Integrated Filing - Governance Financial (XBRL) for the quarter ended March 31, 2026, has not yet been submitted. The company attributed these delays to unintentional oversights and stated it is in the process of filing the necessary documents.

Insider Trading and Disclosure Lapses

ATN International failed to comply with the requirement of trading window closure for the quarter ended June 30, 2025, in connection with the approval of financial results, which constitutes a non-compliance under SEBI (Prohibition of Insider Trading) Regulations, 2015. Additionally, the company did not disclose the death of Shri Amitava Das, Company Secretary, on December 6, 2025, to the exchange within the stipulated 24 hours as required by Regulation 30 of SEBI (LODR) Regulations, 2015.

Governance and Website Updates

The report noted that the company's website requires updates to ensure timely dissemination of information. While the company maintains a functional website, the audit observed that web-links provided in annual corporate governance reports need to be accurate and specific. The company has represented that it is taking the required steps to update the website. The audit also pointed out that the performance evaluation of the Board and Committees was not conducted during the review period, though the company is currently in the process of doing so.

Regulatory Actions and Penalties

The Calcutta Stock Exchange (CSE) levied various penalties on the company under several regulations, including 29(3)(a), 29(2)(b), 29(2)(a), 27(2), and 31b. The National Stock Exchange (NSE) also sought clarification regarding the vacancy in the Compliance Officer position and the Reconciliation of Share Capital Audit Report (RSCA) filed for the quarters ended December 31, 2025, and March 31, 2026. The company indicated that it is preparing its response to these queries.

Director and Auditor Status

The report confirmed that no directors are disqualified under Section 164 of the Companies Act, 2013. However, it was noted that three Independent Directors—Shri Shyam Sundar Chatterjee, Shri Bikash Adhikary, and Shri Rohit Sahu—have not registered themselves with the Databank of Independent Directors maintained by the Indian Institute of Corporate Affairs. Additionally, the DIN of Krishna Banerjee was found to be deactivated as per MCA records. The statutory auditor did not resign during the period, and no disclaimer was present in the audit report regarding non-receipt of information.

ATN International Limited reported a net loss of ₹10.21 lakh for the financial year ended March 31, 2026, widening from a loss of ₹1.20 lakh in the previous year. The company's board approved the audited standalone financial results for the quarter and year ended March 31, 2026, at a meeting held on May 27, 2026. The statutory auditors, Deoki Bijay & Co, issued an unmodified opinion on the results.

Revenue from operations for FY26 was nil, compared to ₹21.00 lakh in the previous year. Total income for the year stood at ₹43.92 lakh, a decrease from ₹37.96 lakh in FY25. Total expenditure increased to ₹54.13 lakh from ₹39.16 lakh in the prior year. For the quarter ended March 31, 2026, the company reported a net profit of ₹9.13 lakh, compared to a profit of ₹7.39 lakh in the same period last year.

The board meeting was conducted pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The trading window for dealing in the company's securities, which was closed in accordance with the Insider Trading Prohibition Code, will reopen 48 hours after the declaration of the financial results.

Financial Highlights for FY26

The company noted that it operates in a single segment, and segment-wise details are not applicable. ATN International also disclosed that a petition for the reduction of paid-up share capital is currently pending before the National Company Law Tribunal, Kolkata Bench, and no accounting entries for the reduction have been recognized pending the final order.