Novus Loyalty Limited complies with FY26 secretarial audit
Novus Loyalty Limited's secretarial audit for FY26 confirms full compliance with statutory provisions, including the Companies Act, 2013, and SEBI regulations. The company's equity shares were listed on the BSE on March 25, 2026, making it a listed entity. The board was reconstituted with new directors, and adequate compliance systems are in place.
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Novus Loyalty Limited has received a compliant secretarial audit report for the financial year ended March 31, 2026, confirming adherence to applicable statutory provisions and good corporate practices. The audit, conducted by Mohak Jain & Co., evaluated the company's corporate conduct and statutory compliances based on a verification of books, papers, minute books, and returns filed. The report confirms that the company has proper board processes and compliance mechanisms in place.
The audit examined compliance with various legislations, including the Companies Act, 2013, the Securities Contracts (Regulation) Act, 1956, and the Depositories Act, 1996. It also reviewed adherence to regulations prescribed under the Securities and Exchange Board of India (SEBI) Act, 1992, such as the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Additionally, the company complied with specific laws identified by management, including the Information Technology Act, 2000, and the Central Goods and Services Tax Act, 2017.
A significant development during the period was the listing of the company's equity shares on the Bombay Stock Exchange, effective March 25, 2026. Consequently, the company became a listed entity, and provisions of the SEBI Act and other laws governing listed companies became applicable. The report noted that post-listing, the Corporate Identification Number (CIN) status on the Ministry of Corporate Affairs (MCA) portal continued with the prefix "U" instead of "L". Management informed the auditors that the necessary steps to update the CIN status with the Registrar of Companies are under process.
During the year under review, the company appointed several directors to its board in compliance with the Companies Act, 2013, and SEBI (LODR) Regulations, 2015. The board is duly constituted with a proper balance of executive, non-executive, and independent directors. Changes to the board composition were carried out in compliance with the Act.
| Name | Designation |
|---|---|
| Pooja Kansal | Independent Director |
| Rajesh Sureka | Independent Director |
| Sushma Samarth | Independent Director |
| Vibhore Rastogi | Director & CFO |
| Mukesh Makkar | Company Secretary |
The audit confirmed that adequate systems and processes are in place to monitor and ensure compliance with applicable laws, rules, and regulations. The company responded appropriately to notices received from statutory and regulatory authorities, initiating corrective measures where necessary. No other specific events or actions having a major bearing on the company's affairs were reported.
Historical Stock Returns for Novus Loyalty
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +6.98% | -2.63% | -21.19% | -3.89% | -3.89% | -3.89% |
What is the expected timeline for the Registrar of Companies to officially update the CIN status from 'U' to 'L'?
How will the costs associated with maintaining SEBI (LODR) compliance impact the company's profitability in the coming fiscal year?
What strategic initiatives does the newly constituted board plan to prioritize following the successful BSE listing?
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