ASCR for the year ended 31st march, 2025.
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Awaiting price reaction for this filing.
Chandrima Mercantiles filed its Annual Secretarial Compliance Report for the financial year ended 31 March 2025, audited by Jay Pandya & Associates, Company Secretaries. Most compliance areas (secretarial standards, policies, website disclosures, director qualifications, related party transactions, insider trading, and Reg 30 disclosures) were found to be in order. One non-compliance was flagged: the company delayed appointing a qualified Company Secretary under Reg 6(1) of LODR, leading to a BSE fine of Rs. 8,614; the company has since appointed a CS and requested a waiver from BSE. More notably, the report discloses two ongoing SEBI matters: a summons dated 13 May 2024 for personal appearance before the Investigating Authority under Section 11C(5) of the SEBI Act (investigation ongoing), and a Show Cause Notice under Rule 4(1) of SEBI's inquiry rules in a matter involving alleged price and volume manipulation (inquiry ongoing). This is the first ASCR filed since the regulation became applicable to the company.
The two pending SEBI investigations, especially the price and volume manipulation probe, are a meaningful red flag for retail investors and could keep the stock under regulatory overhang. The BSE fine of Rs. 8,614 is small and a waiver has been requested, but the delayed CS appointment points to weak compliance hygiene at a small-cap firm. Shareholders should track further SEBI orders in these matters before taking fresh positions.