Annual Secretalial Compliance report for financial year ended 31st March, 2025
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Mid India Industries Ltd submitted its Annual Secretarial Compliance Report for FY2024-25 to BSE, as required under SEBI LODR Regulation 24A. The report, issued by L N Joshi & Co., Practicing Company Secretaries, confirms overall compliance with SEBI regulations, circulars and Secretarial Standards. One deviation was noted: a 9-day delay in intimating BSE about a reclassification application received from promoter group members on 24 February 2025, seeking to move their shareholding from Promoters to Public category. BSE issued an advisory/clarification letter, while management called the delay inadvertent and said all other related disclosures were made on time. A minor old SOP penalty of Rs 1,180 (incl. GST) from BSE for a 2013 corporate governance filing delay was also flagged, along with non-compliance with the requirement that at least 50% of non-promoter holdings be held in dematerialised form.
This is a routine annual compliance filing with no material negative impact on shareholders. The only deviation (a 9-day reclassification intimation delay) is minor, drew only an advisory from BSE with no monetary fine, and reflects a procedural lapse rather than a substantive governance failure. Investors should note the pending promoter-to-public reclassification request, which could eventually dilute the promoter shareholding once approved.