Submission of Annual Secretarial Compliance Report for the year ended March 31, 2025.
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Awaiting price reaction for this filing.
Mansi Finance (Chennai) Ltd submitted its Annual Secretarial Compliance Report for FY 2024-25, prepared by Mundhara & Co, Company Secretaries. The report flags five compliance deviations: (1) Managing Director Adit Bafna sitting on the Nomination and Remuneration Committee, which violates SEBI's rule that all NRC members must be non-executive directors; (2) the company's website is not updated with statutorily required information; (3) a promoter encumbrance declaration under Regulation 31(4) of Takeover Regulations was filed about 1.5 months late, partly attributed to the sudden demise of founder Chairman Suresh Bafna in January 2024; (4) BSE imposed a Rs.13,000 fine (excluding GST) for misclassifying an independent director as non-independent in the December 2024 corporate governance report; and (5) some instances of delayed or missed entries in the insider trading digital database. BSE also consolidated old outstanding penalties totaling Rs.3,11,155 (including GST) since March 2014, which the company states has been paid and settled. No director disqualifications were found, and no subsidiaries exist.
This is a routine but disclosure-heavy compliance filing. The penalties are small and have been settled, so there is no immediate financial blow. However, the repeated governance lapses—executive director on NRC, outdated website, and insider trading database gaps—signal weak compliance culture that investors should monitor. The stock price is unlikely to react materially, but the findings could draw further scrutiny from BSE if not rectified soon.