Submission of Annual Secretarial Compliance Report for the financial year ended on 31st March, 2025
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Awaiting price reaction for this filing.
Max Heights Infrastucture Limited has filed its Annual Secretarial Compliance Report for the financial year ended March 31, 2025, as required under SEBI LODR Regulation 24A. The Practicing Company Secretary confirmed the company complied with applicable SEBI regulations, secretarial standards, and listing obligations during the review period, with no new material non-compliances. The report discloses a SEBI adjudication order dated June 25, 2024 that imposed a total penalty of Rs. 9 lakh (Rs. 2 lakh under SCRA and Rs. 7 lakh under SEBI Act) for past issues including incorrect classification of shareholders Pitampura Leasing and Housing Finance Limited and Ranjitgarh Finance Co. Private Limited, and alleged non-independence of Independent Director Mr. Ashok Ahuja. Two earlier observations, a one-day delay in filing the compliance report (Rs. 2,000 penalty) and late appointment of Company Secretary in December 2019 (Rs. 17,000 penalty), were noted with both penalties already paid.
The Rs. 9 lakh SEBI penalty is a minor financial hit but the underlying governance lapses around shareholder classification and director independence are red flags for retail investors. No fresh material violations were found for FY25, so the stock is unlikely to see significant movement solely from this filing.