Ceenik Exports (India) Ltd has paid ₹5.10 lakh to settle a compounding fee levied by the Ministry of Corporate Affairs (MCA). This payment resolves a regulatory default regarding the non-appointment of a Company Secretary during specific financial years.

The final order was issued by the Office of the Regional Director, Western Region-I, Mumbai, under Section 441 of the Companies Act, 2013. The default pertained to non-compliance with Section 203 of the Act, which mandates the appointment of Key Management Personnel, specifically a Company Secretary.

Details of the Regulatory Default

The violation occurred during the period from September 18, 2016, to November 1, 2018. The company failed to appoint a Company Secretary during this timeframe, leading to regulatory scrutiny and subsequent compounding proceedings. The order was dated September 23, 2026, and received by the company on September 30, 2026.

Impact on Operations

The aggregate compounding fee of ₹5.10 lakh was fully paid by the company and its officers in default. Of this total amount, the company itself contributed ₹1.60 lakh. In its disclosure to the BSE, Ceenik Exports stated that there is no material impact on its business operations or financial stability resulting from this order.

What the Numbers Show

The total penalty of ₹5.10 lakh covers a two-year period of non-compliance (2016–2018), averaging approximately ₹2.55 lakh per year for the entire entity and its officers. The company’s direct contribution of ₹1.60 lakh represents roughly 31% of the total liability, indicating that the remaining burden was borne by individual officers in default. This allocation suggests a shared responsibility model for the governance lapse, though the absolute financial magnitude remains immaterial relative to typical corporate operational costs.

Ceenik Exports (India) Ltd announced that Mitali Chhoriya has resigned from her position as Company Secretary and Key Managerial Personnel (KMP). The resignation is effective September 30, 2026, with immediate effect on the Board.

The disclosure was made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company stated that the resignation was due to personal reasons and clarified that there were no other material reasons for her departure.

Resignation Details

Chhoriya’s resignation letter, dated September 30, 2026, was submitted to the Board of Directors. While the company filing indicates cessation from the Board with immediate effect, the resignation letter itself mentions a one-month notice period with a proposed last working day of October 30, 2026. However, the official regulatory filing confirms the date of cessation as September 30, 2026.

During her tenure, Chhoriya served as the Company Secretary and KMP. The company confirmed she held no other directorships or committee memberships in other companies at the time of resignation.

Key Disclosure Points

The following details were provided in Annexure I of the filing:

The Managing Director, Narain Nanik Hingorani, signed the digital submission to BSE Limited. The company assured smooth handover of statutory records and compliances during the transition period.