Madhusudan Securities Ltd acknowledged a warning letter from BSE Limited regarding a significant delay in filing its application to change its name to MSL Global Limited. The exchange flagged the lapse after the company took nearly a year to submit the application following regulatory approval. The delay has resulted in the company being in non-compliance with Regulation 45(3) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and BSE stated that this non-compliance will be reported to SEBI.

According to the communication from BSE, the company received approval from the Registrar of Companies (ROC) on June 26, 2025. However, the name change application and a clarification letter regarding the delay were only filed on June 17, 2026. BSE observed that there was a considerable delay in the filing process.

Response and Compliance

In its response dated June 29, 2026, Madhusudan Securities Ltd stated that the warning letter and the observations highlighted therein have been duly noted. The company clarified that the matter will be placed before its Board of Directors for consideration and review in an upcoming meeting.

The company acknowledged the importance of timely compliance with regulatory requirements and committed to exercising due care to ensure adherence to prescribed timelines in the future. It stated that necessary measures would be taken to prevent the recurrence of such delays.

Key Dates and Events

BSE advised the company to be cautious in the future and to intimate the corrective steps taken to avoid such lapses. The exchange also requested the company to provide details of the Board Meeting where the BSE advisory is placed before the Board of Directors.

MSL Global Limited announced that its Chief Financial Officer and Key Managerial Personnel, Mr. Vishwanatha Srinivas, resigned from his position effective from the close of business hours on May 31, 2026. The executive stepped down to pursue another career opportunity, confirming there were no other material reasons for his departure. This change impacts the company's financial leadership structure as it moves forward without a CFO.

The company disclosed the resignation to BSE Limited under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure was read with Schedule III – Para A (7C) of Part A and SEBI Circular No. SEBI/HO/CFD/CFD-PoD1/P/CIR/2023/123 dated July 13, 2023. madhusudan securities confirmed that the detailed requirements were met and submitted to the exchange.

In his resignation letter addressed to the Board of Directors, Mr. Srinivas cited personal reasons and other professional commitments for his decision. He requested the company to file necessary forms with the Registrar of Companies and other authorities under the applicable provisions of the Companies Act, 2013. The Board acknowledged the receipt of the resignation letter.

The disclosure details provided to the exchange confirm that Mr. Srinivas did not hold any shares in the company. The company has updated its records to reflect the cessation of the CFO's duties. The Managing Director, Salim Pyarali Govani, signed the regulatory intimation submitted to the exchange.

Details of Resignation