MADHAV · price
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Awaiting price reaction for this filing.
Madhav Marbles & Granites has filed its Annual Secretarial Compliance Report for the financial year ended 31 March 2025, certifying overall compliance with SEBI regulations including the LODR, Insider Trading, and Takeover Regulations. Two minor non-compliances were flagged: a one-day delay in submitting Related Party Transaction disclosures under Regulation 23(9), for which BSE and NSE levied a combined fine of Rs 5,900, and a 16-day delay in filing the prior year's Annual Secretarial Compliance Report under Regulation 24A, attracting a fine of Rs 37,760 from BSE. Both fines have already been paid by the company, which has described the lapses as unintentional or due to oversight. The Practicing Company Secretary confirmed broad compliance across secretarial standards, board policies, website disclosures, director eligibility, related-party approvals, and insider trading norms, with no SEBI actions, no auditor resignations, and no material subsidiary issues.
The two penalties are minor in financial terms (totalling Rs 43,660) and have already been absorbed, so the immediate impact on shareholders is negligible. However, repeated late filings could attract closer scrutiny from exchanges and dent the company's governance image if not avoided going forward.