Annual Secretarial Compliance Report for the year ended March, 2026
MANORG · price
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Mangalam Organics Ltd has submitted its Annual Secretarial Compliance Report for FY 2025-26, reviewed by Practicing Company Secretary Yogesh Sharma & Co. The auditor found the company largely compliant with SEBI regulations, though two deviations were noted. First, the company continued a Non-Executive Director (Mr. Sudarshan Kumar Saraf) who attained 75 years of age without prior shareholder approval via Special Resolution under Regulation 17(1A), resulting in a fine of Rs. 82,600 from BSE. Shareholder approval was subsequently obtained at the September 2024 AGM. Second, the company failed to provide minimum two working days' notice for a Board Meeting scheduled on August 18, 2025, incurring a fine of Rs. 10,000 from both BSE and NSE. All other compliance areas including Secretarial Standards, website disclosures, insider trading norms, and related party transactions were found satisfactory.
The two regulatory fines totaling Rs. 92,600 are minor administrative penalties. The company has paid both fines and remedied the director approval issue. The management contests the director age fine citing legal precedents and reserves right to seek refund. This filing indicates good overall governance with isolated procedural lapses.