In terms of Regulation 24A of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended from time to time, we are submitting herewith Annual Secretarial Compliance ....
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Morganite Crucible (India) Limited has submitted its Annual Secretarial Compliance Report for FY 2024-25, as required under SEBI's Listing Regulations. The report, issued by secretarial auditor Prajot Tungare & Associates, flagged a few compliance lapses: a delay in disclosing related party transactions (fine of Rs. 11,800), incorrect composition of the Nomination and Remuneration Committee as initially reported (fine of Rs. 2,14,760), and shareholder approval for two director appointments not obtained within the stipulated time under Regulation 17(1C)(a). The company's Structured Digital Database for insider trading compliance was also not fully maintained as per SEBI specifications. The company has since filed revised corporate governance reports, submitted clarifications to BSE, and is seeking waivers on the fines. Shareholder approval for the directors will be sought at the AGM scheduled for May 21, 2025.
The total fines of around Rs. 2.26 lakh are small and unlikely to materially affect the company or its stock price. However, repeated procedural lapses in related-party disclosures (the same issue appeared in last year's report too) point to some weakness in compliance processes that investors should monitor.