City Union Bank confirms FY26 secretarial compliance
City Union Bank Limited's Annual Secretarial Compliance Report for FY 2026 confirms full compliance with SEBI regulations and statutory provisions. The audit by M/s KUVS & Associates verified governance standards, policy updates, and disclosures, finding no material related party transactions or regulatory actions against the bank.
*this image is generated using AI for illustrative purposes only.
City Union Bank Limited has filed its Annual Secretarial Compliance Report for the financial year ended March 31, 2026, with the stock exchanges. The report, submitted pursuant to Regulation 24A(2) of the SEBI Listing Regulations, 2015, was issued by M/s KUVS & Associates, Practicing Company Secretaries. It confirms that the bank has complied with the statutory provisions examined during the review period.
The secretarial audit reviewed the bank's adherence to various regulations, including the SEBI Act, the Securities Contracts (Regulation) Act, and the SEBI (Listing Obligations and Disclosure Requirements) Regulations. The examination also extended to the Depositories Act, regulations concerning insider trading, and those related to share-based employee benefits.
Key Compliance Areas
The report evaluated the bank's compliance across several critical operational and governance areas. The auditor verified the maintenance of statutory records, the functionality of the bank's website, and the timely dissemination of information. Specific attention was paid to the adoption and updating of board-approved policies required under SEBI regulations.
The audit confirmed that no directors of the bank were disqualified under Section 164 of the Companies Act, 2013. It also noted that the bank conducted performance evaluations for the Board, Independent Directors, and various committees as prescribed. Furthermore, the report stated that there were no material related party transactions during the year under review.
Audit Findings
M/s KUVS & Associates reported that the bank complied with the provisions listed in the report. The status of specific compliance parameters is detailed in the table below:
| Sl. No. | Particulars | Compliance Status |
|---|---|---|
| 1 | Compliance with Secretarial Standards issued by ICSI | Yes |
| 2 | Adoption and timely updation of Policies under SEBI Regulations | Yes |
| 3 | Maintenance and disclosures on Website | Yes |
| 4 | Disqualification of Director | Yes |
| 5 | Details related to Subsidiaries | Not Applicable |
| 6 | Preservation of Documents | Yes |
| 7 | Performance Evaluation of Board and Committees | Yes |
| 8 | Related Party Transactions | Yes |
| 9 | Disclosure of events or information under Regulation 30 | Yes |
| 10 | Prohibition of Insider Trading | Yes |
| 11 | Actions taken by SEBI or Stock Exchange(s) | Yes |
| 12 | Additional Non-compliances | Yes |
The report also noted that there were no actions taken by SEBI or stock exchanges against the bank, its promoters, or directors. Additionally, no additional non-compliances were observed regarding SEBI regulations, circulars, or guidance notes. There were no resignations of statutory auditors during the period under review.
Historical Stock Returns for City Union Bank
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -2.43% | +4.24% | +6.63% | -1.20% | +36.86% | +59.28% |
How might City Union Bank's consistent regulatory compliance record influence its ability to expand into new business segments or geographies in the coming fiscal year?
Given the clean secretarial audit with no material related party transactions, what strategic acquisitions or partnerships could City Union Bank pursue to strengthen its competitive position?
How could evolving SEBI regulations around insider trading and disclosure requirements impact City Union Bank's governance framework and compliance costs in future reporting periods?
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