Revised Annual Secretarial Compliance Report for the year ended 31/03/2025.
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Madhuveer Com 18 Network Limited (BSE: 531910) has filed its Annual Secretarial Compliance Report for FY 2024-25, reviewed by Practicing Company Secretary Rupal Patel under SEBI Regulation 24A. The report flags three non-compliances on which BSE issued advisories: (1) non-disclosure of an arbitration award dated 11 April 2025 with a claim value of about Rs. 14.31 lakh, (2) non-disclosure of details of two new material subsidiaries (Jojo Studios and Premier Adsworld, acquired in December 2024), and (3) non-filing of the Statement of Deviation and Variation for the quarter ended 31 December 2024. Other key corporate actions during the year included the conversion of 1.5 crore warrants into equity shares in June 2024, issuance of 1 crore fresh convertible warrants on a preferential basis in November 2024, formation of a wholly-owned US subsidiary Jojo Global Inc., a 0.5% final dividend, and multiple changes in directors and the Company Secretary. The company says it has taken or will take corrective steps for the flagged issues.
Minor negative signal for shareholders — the BSE advisories relate to disclosure lapses rather than financial wrongdoing, and the arbitration exposure is small (around Rs. 14.3 lakh). The compliance gaps and governance-related changes (multiple director and CS exits, delayed AGM, missing subsidiary disclosures) may weigh on sentiment and warrant close tracking of future filings for course correction.