Mahalaxmi seamless Limited has officially notified BSE Limited of its exemption from submitting the Annual Secretarial Compliance Report under Regulation 24A for the financial year ended March 31, 2026. The communication was made through an official letter dated April 10, 2026, signed by Managing Director Vivek Madhavprasad Jalan.

Regulatory Exemption Details

The company has claimed exemption under Regulation 15(2) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This regulation provides that corporate governance provisions shall not apply to listed entities meeting specific financial criteria.

Compliance Framework

The exemption is based on SEBI Circular No. CIR/CFD/CMD1/27/2019 dated February 08, 2019, and BSE Circulars No. LIST/COMP/10/2019-20 dated May 09, 2019, and LIST/COMP/12/2019-20 dated May 14, 2019. These circulars outline the requirements and exemptions for Annual Secretarial Compliance Reports.

The company has also submitted a Non-Applicability Certificate for Corporate Governance Report, reinforcing its position that the compliance requirements do not apply to its current financial structure.

Company Information

Mahalaxmi Seamless Limited operates with CIN L93000MH1991PTC061347 and maintains its registered office at Pipenagar (Sukeli) Via Nagothane Taluka Roha Dist Raigad. The company's corporate office is located at Virwani Industrial Estate, Goregaon (East), Mumbai.

Official Communication

The formal notification to BSE emphasizes that the company meets the exemption criteria and therefore is not required to submit the Annual Secretarial Compliance Report for FY26. The communication requests BSE to acknowledge receipt and take the information on record.

This exemption allows smaller listed companies to operate with reduced compliance burden while maintaining essential regulatory oversight through other applicable provisions.

Mahalaxmi seamless Limited has formally communicated to BSE Limited that it does not qualify as a Large Corporate under the SEBI regulatory framework for debt securities issuance. The submission, dated April 10, 2026, addresses compliance requirements outlined in SEBI circular SEBI/HO/DDHS/CIR/P/2018/144.

Regulatory Compliance Framework

The company provided detailed information as per the SEBI framework for determining Large Corporate status:

Key Determination Factor

The primary factor establishing the company's non-Large Corporate status is its outstanding borrowing position. Mahalaxmi Seamless Limited confirmed that its long-term borrowings as of March 31 remain below the Rs. 100 crore threshold specified in the SEBI framework.

Management Communication

Managing Director Vivek Madhavprasad Jalan (DIN: 00114795) signed the official submission to BSE Limited. The communication emphasizes the company's commitment to regulatory compliance and proper categorization under SEBI guidelines.

SEBI Framework Context

The SEBI circular SEBI/HO/DDHS/CIR/P/2018/144, dated November 26, 2018, establishes specific criteria for identifying Large Corporates in the context of fund raising through debt securities issuance. Companies falling under this category face additional regulatory requirements and compliance obligations.

This clarification ensures that Mahalaxmi Seamless Limited maintains appropriate regulatory standing and avoids unnecessary compliance burdens associated with Large Corporate classification.