Annual Secretarial Compliance Report for the year ended March 31, 2025
Awaiting price reaction for this filing.
Mahan Industries has filed its Annual Secretarial Compliance Report for FY25, confirming overall compliance with SEBI regulations including the Listing Regulations, Insider Trading rules, Secretarial Standards, and related party transaction approvals. However, the report reveals multiple past non-compliances for which BSE had imposed fines: late filing of XBRL Annual Secretarial Compliance Report (Rs. 2,360 fine), delayed Corporate Governance Reports for June 2014 and September 2015 quarters (fines of Rs. 1,180 and Rs. 62.23 lakh respectively), non-constitution of Audit Committee and Nomination & Remuneration Committee (Rs. 4.15 lakh fine), and non-appointment of Company Secretary as Compliance Officer (Rs. 10,000 fine). Most fines have been paid, some waiver applications are pending with BSE, and the promoter demat accounts were earlier frozen due to non-payment of fines.
The report highlights persistent governance and compliance lapses over the years, with cumulative penalties exceeding Rs. 65 lakh. While the company is now catching up on filings and committees have been constituted, the pattern of delayed submissions and past fines may weigh on investor confidence and signal weak internal compliance systems.