Revised Annual Secretarial Compliance Report for Financial Year Ended 31.03.2026
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Midland Polymers Limited has filed its Annual Secretarial Compliance Report for FY 2025-26. The report identifies one deviation: the company inadvertently omitted mentioning Ms. Vanaja Veeramreddy's resignation from the Audit Committee (effective 04.08.2025) in the Integrated Governance Report for Q2 FY2025-26. BSE levied a fine of Rs. 80,240/- for this non-compliance under Regulation 18(1) of SEBI LODR. The company subsequently filed a revised report on 26.12.2025 and paid the fine on 31.12.2025. A waiver application was submitted on 22.01.2026. The Practicing Company Secretary noted this was a disclosure omission only and not an actual failure to maintain proper Audit Committee composition. All other compliance requirements across 13 parameters were met, including Secretarial Standards, insider trading regulations, and website disclosures.
Minor regulatory event with no material impact on shareholders. The company has already rectified the omission, paid the fine, and maintains proper governance standards. The waiver application outcome could reduce the financial impact.