Annual Secretarial compliance report for the year 2025.
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Minal Industries Ltd submitted its Annual Secretarial Compliance Report for FY25, reviewed by HSPN & Associates LLP under SEBI's Regulation 24A. The Practicing Company Secretary confirmed overall compliance with SEBI (LODR) Regulations, covering secretarial standards, policies, website disclosures, director eligibility, related-party transactions, insider trading rules, and event disclosures. However, the company was flagged for delays in submitting financial results under Regulation 33(3): the Q1 FY25 results were filed 1 day late, and the FY24 audited results required resubmission on December 18, 2024. BSE levied penalties of Rs. 2,77,840 for delay in FY24 annual results and Rs. 1,53,400 for delayed Q2 FY25 results. The report also noted that historical issues from prior years (late AGM notice, annual report submission delays, promoter holdings not in demat form) have not recurred.
While the company is broadly compliant, repeated delays in financial result submissions and the resulting BSE penalties (totalling roughly Rs. 4.3 lakh) signal weak compliance discipline and governance lapses. For shareholders, this is a mild negative as it points to procedural delays and minor fines, though no major regulatory action has been taken.