Approval of Secretarial Compliance Report under regulation 24(A) issued by M/s Vikas R Chomal and Associates.
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MPL Plastics Limited has submitted its Annual Secretarial Compliance Report for FY 2024-25, reviewed by M/s Vikas R Chomal and Associates and approved by the Board on May 28, 2025. The report flags several non-compliances, including 12,50,000 promoter-allocated shares still pending listing on BSE (re-application made in September 2024, still under process), a vacancy in the Compliance Officer position that was not filled within the mandatory 3-month window leading to a BSE-imposed fine of Rs. 62,540 (including GST), and a previously levied fine of Rs. 29,500 for late submission of Related Party Transaction disclosures. Other flagged lapses include late reporting on duplicate share certificates and missing intimation on book closure for the AGM. The report confirms compliance with Secretarial Standards, insider trading norms, related party transaction approvals, website disclosures, and board performance evaluation.
While the filing is a routine regulatory requirement, the repeated compliance lapses — especially the multi-year delay in getting promoter shares listed and fines for governance gaps — point to weak compliance systems. Retail investors should note these red flags as they may attract further regulatory scrutiny or additional penalties.