Non-Applicability of Annual Secretarial Compliance Report (24A) for the year ended March 2025
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Awaiting price reaction for this filing.
Mid East Portfolio Management Ltd has informed BSE that it qualifies for exemption under Regulation 15(2) of SEBI (LODR) Regulations, 2015, due to its small size. The company's paid-up equity share capital is Rs. 5.03 crores and net worth is Rs. 3.43 crores as of December 31, 2024, both below the exemption thresholds of Rs. 10 crores and Rs. 25 crores respectively. Because of this, the company is not required to file the Annual Secretarial Compliance Report under Regulation 24A or comply with Corporate Governance norms under Regulation 27(2) and other related regulations. A certificate confirming this non-applicability has been issued by VKM & Associates, Practicing Company Secretary. The company's reserves stood at a negative Rs. 1.60 crores, which is worth flagging.
This is a routine regulatory filing for a small-cap company and does not affect shareholders or stock price. However, the negative reserves indicate weak financial health and may be a concern for investors evaluating the company's fundamentals.