Annual Secretarial Compliance Report for the year ended on 31st March 2025
Awaiting price reaction for this filing.
Mega Fin India Ltd filed its Annual Secretarial Compliance Report for FY 2024-25, which flags several compliance lapses. BSE has suspended trading in the company's shares due to non-payment of annual listing fees for both FY 2023-24 and FY 2024-25; the company attributes this to 'financial stress.' The firm also failed to appoint a qualified Company Secretary as Compliance Officer for two quarters (Dec 2024 and Mar 2025), attracting fines of ₹90,000 each (cumulative ₹1,80,000, shown as ₹1,06,200 for Mar 2025 in Annexure A). Other violations include delayed intimation of a board meeting (₹11,800 fine), non-submission of quarterly financial results, voting results, shareholder complaints reports, and the share capital reconciliation audit report. The report does confirm compliance with Secretarial Standards, insider trading norms, and that no director is disqualified.
This filing signals significant financial and governance distress at Mega Fin India. Trading has already been suspended by BSE due to unpaid listing fees, leaving shareholders unable to exit, while the company's own admission of 'financial stress' heightens credit and going-concern concerns. Multiple regulatory fines and repeated compliance failures point to weak governance, which is a clear negative for investor confidence.