Bengal & Assam Company files seventh BRSR report with BSE for FY26
Bengal & Assam Company Limited filed its seventh BRSR for FY2025-26, detailing governance led by Sanjeev Kumar Jhunjhunwala and Ashok Kumar Kinra. The CIC-ND-SI entity reported six employees, 17 resolved shareholder complaints, and exemption from CSR spending. It faces a legal challenge regarding a ₹10.73 crore stamp duty order, currently stayed by the Calcutta High Court.
*this image is generated using AI for illustrative purposes only.
bengal & assam Company Limited has submitted its seventh Business Responsibility and Sustainability Report (BRSR) to the Bombay Stock Exchange (BSE) for the financial year 2025-26. The filing, dated August 12, 2026, was transmitted by Dillip Kumar Swain, Company Secretary, pursuant to Regulation 34(2)(f) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The report details the entity’s performance against the National Guidelines on Responsible Business Conduct (NGRBC), highlighting governance frameworks, stakeholder engagement, and compliance metrics relevant to its role as a Core Investment Company - Non Deposit Taking-Systemically Important (CIC-ND-SI) registered with the Reserve Bank of India (RBI).
The report covers disclosures on a standalone basis and confirms that the company’s business responsibility performance is assessed by its Board of Directors. Bengal & Assam holds strategic stakes in several listed entities, including JK Tyre & Industries Ltd. (45.43%), JK Lakshmi Cement Ltd. (42.04%), JK Paper Ltd. (43.92%), and JK Agri Genetics Ltd. (67.56%). The company’s paid-up capital stands at ₹76.40 crore. The filing also notes that while Section 135 of the Companies Act, 2013, is applicable, the company is exempt from constituting a CSR Committee and incurring CSR expenditure under Rule 2(1)(h)(ii) of the Companies (Corporate Social Responsibility Policy) Rules, 2014, as its primary income source is dividends from CSR-compliant companies.
Governance and Stakeholder Engagement
The Business Responsibility and Sustainability Committee of the Board oversees the implementation of BR policies. The committee comprises Sanjeev Kumar Jhunjhunwala (Chairman), Ashok Kumar Kinra (Member), and Upendra Kumar Gupta (Member). Ashok Kumar Kinra, a Non-executive Director, is identified as the highest authority responsible for the implementation and oversight of the Business Responsibility policy.
The company reported receiving 17 complaints from shareholders during FY2025-26, all of which were resolved, leaving zero pending cases at year-end. This compares to 11 complaints received in FY2024-25, of which one was pending resolution at the end of that fiscal year but was subsequently resolved in the following quarter. No complaints were received from communities, investors (other than shareholders), employees, customers, or value chain partners during the reporting period.
Operational and Employee Metrics
Bengal & Assam operates from two national offices and has no international presence or manufacturing plants. The workforce consists of six employees, all male, comprising five permanent and one non-permanent staff member. There are no female employees or workers. The company reported a zero turnover rate for permanent employees and workers over the past three years (FY2023-24 to FY2025-26).
| Metric | FY2025-26 | FY2024-25 |
|---|---|---|
| Total Employees | 6 | 6 |
| Female Representation on Board | 20% (2 of 8) | Not Disclosed |
| Training Coverage (Employees) | 100% | 100% |
| Shareholder Complaints Filed | 17 | 11 |
| Pending Complaints (Year-End) | 0 | 1 |
All permanent employees are covered under health insurance and accident insurance schemes. The company incurred costs equivalent to 0.0037% of total revenue on employee well-being measures in FY2025-26, up from 0.00057% in the previous year. Retirement benefits include Provident Fund coverage for 100% of eligible employees, Gratuity for 83.33%, and Superannuation Fund for 33.33%.
Environmental Impact and Legal Compliance
As an investment holding company with leased office premises, Bengal & Assam reported no significant direct environmental impact. Energy consumption, water usage, and waste generation data were not disclosed as utilities are centrally managed by building owners and the entity generates negligible waste. The company confirmed compliance with applicable environmental laws, including the Water and Air Prevention and Control of Pollution Acts.
Legally, the company is engaged in a writ petition before the High Court of Calcutta challenging a stamp duty order of ₹10.73 crore adjudicated by the Collector of Stamps, Kolkata, regarding 32,59,586 equity shares issued under a 2019 Scheme of Arrangement. The High Court issued an order on March 10, 2026, restraining the Collector from taking coercive measures until the appeal is disposed of. No fines, penalties, or disciplinary actions for bribery or corruption were recorded against directors, key managerial personnel, or employees during the reporting period.
Historical Stock Returns for Bengal & Assam
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -1.52% | +6.41% | +5.49% | 0.0% | 0.0% | 0.0% |
How might the resolution of the ₹10.73 crore stamp duty litigation impact Bengal & Assam's net asset value and dividend payout capacity for its listed subsidiaries?
Given the company's exemption from CSR expenditure due to dividend income from compliant entities, will this policy stance influence investor sentiment regarding its overall sustainability governance?
With a workforce of only six employees and zero female representation, what strategies is the Board considering to address diversity metrics in future BRSR filings?
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