BGIL Films & Technologies Ltd accepted the resignation of Akhileshwar Singh from the position of Company Secretary and Compliance Officer, effective from the close of business hours on May 15, 2026. The resignation was submitted due to personal reasons and was acknowledged by the Board following its meeting held on the same date. The company confirmed that the resignation took effect immediately after the conclusion of the Board meeting on May 15, 2026.

The company addressed a clarification to the Bombay Stock Exchange regarding discrepancies under Regulation 30 of the SEBI (LODR) Regulations, 2015. In its communication, BGIL Films & Technologies Ltd confirmed that it had received the resignation letter and would proceed with the required regulatory formalities. The company stated that it would file the necessary e-Form DIR-12 with the Registrar of Companies and make the requisite intimation to BSE Limited under Regulation 30 of the SEBI (LODR) Regulations, 2015.

Pooja Aggarwal has been designated as the Company Secretary & Compliance Officer in the interim, signing the regulatory submission to the exchange. The outgoing officer, Akhileshwar Singh, requested the Board to provide an acknowledgement of the resignation letter and a copy of the filed e-Form DIR-12 once the process is completed. The resignation was formally accepted on behalf of the Board on May 15, 2026.

bgil films & technologies reported multiple regulatory compliance lapses for the financial year ended March 31, 2026, resulting in penalties imposed by BSE. The company faced delays in filing disclosures related to related party transactions, shareholding patterns, and financial results. Additionally, the firm identified deficiencies in its board composition and the maintenance of its official website. These lapses led to monetary fines and the freezing of promoter holdings for specific periods.

Regulatory Penalties and Fines

The company incurred penalties for several non-compliances during the review period. The most significant fine of ₹2,59,600 was levied under SOP-Reg-24A in March 2025. Other penalties included ₹1,60,480 for failing to constitute the nomination and remuneration committee as required by Regulation 19(1) and 19(2) of the SEBI (LODR) Regulations, 2015. Delays in uploading related party transaction details and shareholding patterns resulted in fines of ₹11,800 and ₹2,360 respectively.

Board Composition and Governance Issues

The report highlighted that the board composition requires review regarding the provisions of Section 152 of the Companies Act, 2013. The company has seven directors, comprising five independent and two other than independent directors. The auditor noted the absence of a documented performance evaluation process and a familiarization program for directors during the year under review. Furthermore, the appointments of Mr. Premkumar Sitaram Mahato and Mr. Amit Panwar as additional directors were not updated on the Ministry of Corporate Affairs (MCA) website.

Withdrawal of Preferential Issue

The board had approved the issuance of 5,65,11,000 Convertible Equity Warrants on a preferential basis to non-promoters in September 2025. The issue, aggregating to ₹79,11,54,000, was approved by shareholders but faced delays in receiving in-principal approval from BSE. Consequently, several investors withdrew their commitments, leading the board to withdraw the application for approval on December 15, 2025.

Additional Compliance Observations

The report noted that the company's official website does not contain basic information as prescribed by Regulation 46 of the SEBI (LODR) Regulations, 2015. There were also delays in filing declarations under Regulation 31(4) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The company confirmed that no statutory auditor resigned during the period and that there are no subsidiaries.