Submission of annual secretarial compliance report for the period ended 31st March, 2025.
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Magnanimous Trade & Finance Ltd submitted its Annual Secretarial Compliance Report for FY25, certified by Mahendra Khandelwal & Co., Practicing Company Secretaries. The report confirms overall compliance with SEBI LODR Regulations, including secretarial standards, insider trading norms, related party transactions, and timely disclosures. However, BSE imposed two fines on the company: Rs 1,23,900 (incl. GST) for delayed submission of consolidated financial results for Q1FY25 (quarter ended 30 June 2024), and Rs 8,29,540 (incl. GST) for non-compliance with Board and Committee composition norms under Regulations 17(1), 19(1)/19(2) and 20(2)/(2A) up to the quarter ended September 2024. Both fines have been deposited with the Stock Exchange, and the company has applied to BSE for a waiver.
Shareholders should note two regulatory penalties totaling around Rs 9.53 lakh (incl. GST) for filing delays and Board/Committee composition lapses, which signal past governance weaknesses. The waiver application and current compliance status suggest the issues are being addressed, but the fines reflect prior lapses in timely disclosure and board structuring.