Annual Secretarial Compliance for March, 2025
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Madhuveer Com 18 Network Limited (BSE: 531910) submitted its Annual Secretarial Compliance Report for FY ended March 31, 2025, certified by Practicing Company Secretary Rupal Patel. The company generally complied with SEBI LODR regulations, but two non-compliances were flagged: (1) non-disclosure of an Arbitration Award dated April 11, 2025 with a claim value of Rs. 14,31,270, for which the Board has decided to approach the NCLT Ahmedabad; and (2) non-disclosure of two newly acquired subsidiaries (Jojo Studios Pvt Ltd and Premier Adsworld Pvt Ltd, acquired on Dec 24 and Dec 26, 2024). BSE issued advisories but no fines were imposed. During the year, the company allotted 1.5 crore shares via warrant conversion, issued 1 crore convertible warrants on a preferential basis, declared a 0.5% final dividend, and invested $1000 to set up Jojo Global Inc. as a wholly owned subsidiary.
Minor compliance lapses around disclosure of an arbitration award and new subsidiaries received BSE advisories but no monetary penalties, suggesting limited immediate stock-price impact. However, repeated disclosure delays and the undisclosed arbitration matter worth ~Rs. 14.3 lakh may concern governance-focused shareholders.