Rail Vikas Nigam Limited ( rail vikas nigam ) has appointed M/s Kumar Naresh Sinha & Associates as its Secretarial Auditor for the financial year 2023-24. The Board of Directors approved the appointment on March 14, 2024, ensuring compliance with corporate governance norms under the Securities and Exchange Board of India framework.

The decision aligns with Schedule III Part A (7) read with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This regulatory requirement mandates listed entities to conduct a secretarial audit to ensure adherence to applicable laws and regulations. The company disclosed the appointment to the National Stock Exchange of India Ltd and BSE Ltd.

Auditor Profile

M/s Kumar Naresh Sinha & Associates is a proprietorship firm led by Naresh Kumar Sinha, who holds Certificate of Practice number 14984 and Registration number S2015UP440500. The firm is peer-reviewed and based in Noida, Uttar Pradesh.

Naresh Kumar Sinha brings over 35 years of experience as a Company Secretary in both public sector undertakings and private sector companies. Prior to establishing his practice, he served as Executive Director and Company Secretary at ONGC Limited, a Maharatna PSU, and as Company Secretary and Head Legal at BHEL. He currently serves as Secretarial Auditor for several listed and unlisted companies, including large PSUs.

Regulatory Compliance

The appointment underscores Rail Vikas Nigam Limited’s commitment to maintaining robust corporate governance standards. The disclosure was signed by Kalpana Dubey, Company Secretary & Compliance Officer, and submitted to the stock exchanges on March 14, 2024.

Rail Vikas Nigam Limited has incorporated a new subsidiary, RVNL Infra Middle East, in the Sultanate of Oman, marking an expansion of its international footprint. The formation of the entity positions the state-owned infrastructure developer to pursue projects in the Middle East region directly. This strategic move aligns with broader efforts by Indian infrastructure firms to capitalize on growing capital expenditure in Gulf Cooperation Council countries.

The company disclosed the incorporation on April 8, 2024, in filings submitted to the National Stock Exchange of India Ltd. and BSE Ltd. The announcement was made pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. This regulation mandates timely disclosure of material events, including the formation of subsidiaries that may impact the company’s operations or financial position.

Strategic Expansion

The establishment of RVNL Infra Middle East allows Rail Vikas Nigam to operate with a local presence in Oman, potentially streamlining project execution and compliance with local regulatory requirements. While the filing does not specify immediate project awards or revenue targets for the subsidiary, the incorporation itself is a prerequisite for bidding on and executing infrastructure contracts in the region.

Regulatory Compliance

The disclosure was signed by Kalpana Dubey, Company Secretary & Compliance Officer of Rail Vikas Nigam Limited. The filing confirms that the subsidiary is fully owned by the parent company, although specific shareholding details were not elaborated in the brief notice. Investors should monitor future announcements for details on capital contribution, management appointments, and initial project pipelines for the new entity.

This expansion adds to Rail Vikas Nigam’s existing portfolio of domestic railway and infrastructure projects, diversifying its geographic risk exposure.