Annual Secretarial Compliance Report - March, 2025
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MAS Financial Services Ltd has filed its Annual Secretarial Compliance Report for the financial year ending March 31, 2025, as mandated under SEBI's Regulation 24A. The report, prepared by Practicing Company Secretary Ravi Kapoor & Associates, confirms broad compliance with SEBI regulations, listing obligations, insider trading rules, and secretarial standards across most areas including board composition, related party transactions, website disclosures, and event reporting. Three minor non-compliances were flagged: (1) delay in uploading NCD interest payment details on the NSDL portal under Regulation 57(1), attracting a fine of Rs 2,000/day per ISIN; (2) failure to appoint a Director with a strong IT/technology background under Regulation 17(1), attracting a fine of Rs 5,000 per day plus GST; and (3) delayed updation of CIBIL records per RBI circular, leading to a Rs 15,600 penalty. Two prior-year observations about delays in submitting record-date intimation and gaps between record dates for bonus shares were also carried forward, with the company having filed waiver applications for all these penalties.
This is a routine annual compliance filing with no material financial or governance concern for shareholders. All flagged issues are procedural and minor in scale relative to the company, and active waiver applications are in process with the exchanges.