Submission of ASCR pursuant to regulation 24A of SEBI (LODR) Regulations, 2015, for the financial year ended March 31, 2025.
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Mini Diamonds (India) Limited submitted its Annual Secretarial Compliance Report for FY2024-25, prepared by M/s. Manish Ghia & Associates. The report flags six non-compliance areas: (1) late disclosure (by ~2 weeks) of a Wholly Owned Subsidiary incorporation under Regulation 30 of LODR; (2) promoter group shareholding not fully held in demat form under Regulation 31(2); (3) delayed filing of revised shareholding pattern (filed on 11 October 2024 vs. due 24 August 2024) after a 2 crore equity share preferential allotment on 14 August 2024; (4) a director (Mr. Dilip Shah) who was technically disqualified under Section 164 due to non-filing by another company, though he resigned on 27 December 2024; (5) gaps in maintaining the Structured Digital Database (SDD) for Unpublished Price Sensitive Information under PIT Regulations; and (6) Executive Director Mr. Ronish Shah continuing in role without formal re-appointment or shareholder approval for his 4th and 5th year. No monetary fines or SEBI actions were imposed; the company has committed to corrective steps at the next AGM.
No penalties or SEBI/BSE action has been levied so far, and most lapses are described as inadvertent, so near-term stock impact is likely limited. However, repeated compliance misses — particularly around insider-trading record-keeping and director governance — could invite regulatory scrutiny or warnings from BSE/SEBI and are mildly negative from a corporate governance standpoint.