Market Creators Ltd confirms SEBI LODR compliance for FY26
Market Creators Ltd's secretarial compliance report for FY26 confirms adherence to SEBI LODR Regulations, following a review by Practicing Company Secretary Heena Patel. The company rectified past governance issues, including board composition and committee formations, and settled or sought waivers for related fines. The audit verified compliance with insider trading norms, related party transactions, and disclosure requirements.
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Market Creators Ltd has confirmed full compliance with the SEBI (Listing Obligations and Disclosure Requirements) Regulations for the financial year ended March 31, 2026. The disclosure follows a review conducted by Heena Patel, a Practicing Company Secretary, who verified the company's adherence to statutory provisions and corporate governance norms during the review period. The report addressed specific regulatory requirements and the status of past non-compliances, providing transparency on the company's governance structure.
The secretarial audit examined the company's compliance with various SEBI regulations, including those related to insider trading, buyback of securities, and share-based employee benefits. Heena Patel reported that Market Creators Ltd complied with the provisions of the examined regulations and circulars during the review period. The audit covered documents, filings, and the company's website to ensure comprehensive adherence to the mandated norms.
A significant portion of the report focused on the remediation of non-compliances identified in previous periods. The company had faced penalties for lapses such as the delayed appointment of an independent director and the constitution of mandatory committees. The following table details the past deviations and the corrective actions taken by the management:
| Sr. No. | Compliance Requirement | Details of Violation | Remedial Actions Taken | Status of Waiver Application |
|---|---|---|---|---|
| 1 | Regulation 17(1) | Non-compliance with Board composition; Fine: 45000+GST and 460000+GST | Necessary corrective action taken; Compliance made | BSE waived partial fine |
| 2 | Regulation 44(3) | Delayed submission of voting results; Fine: 10000+GST | Application for waiver made | Status awaited |
| 3 | Regulation 6(1) | Delayed appointment of compliance officer; Fine: 30000+GST | Company Secretary appointed on 31.07.2024 | BSE rejected waiver; fine paid |
| 4 | Regulation 18(1) | Non-compliance with audit committee constitution; Fine: 128000+GST | Necessary corrective action taken; Compliance made | BSE waived partial fine |
| 5 | Regulation 19(1)/ 19(2) | Non-compliance with nomination and remuneration committee; Fine: 128000+GST | Necessary corrective action taken; Compliance made | BSE waived partial fine |
| 6 | Regulation 20(2)/(2A) | Non-compliance with stakeholder relationship committee; Fine: 128000+GST | Committee not constituted | BSE waived partial fine |
The report confirmed that Market Creators Ltd has adopted and updated all applicable policies under SEBI regulations with board approval. The company maintains a functional website with accurate web-links for documents as required under Regulation 27(2). Additionally, the audit verified that none of the directors are disqualified under Section 164 of the Companies Act, 2013, and that the company has no subsidiaries.
Regarding specific compliance checks, the company affirmed it has preserved documents as prescribed and conducted performance evaluations of the board and its committees. All related party transactions obtained prior approval from the audit committee. The report also stated that no actions were taken by SEBI or stock exchanges against the company, its promoters, or directors during the review period, and there were no resignations of statutory auditors.
Historical Stock Returns for Market Creators
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +4.26% | +12.39% | +8.25% | +6.60% | +6.52% | +310.61% |
What measures is Market Creators Ltd implementing to prevent the recurrence of past governance lapses, such as delayed committee formations?
How will the resolution of the pending waiver application for the delayed submission of voting results impact the company's compliance costs?
Will the successful remediation of past non-compliances lead to a revision in the company's internal audit frequency or scope?
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