Nature of the Disclosure
MSL Global Limited (formerly Madhusudan Securities Limited) has submitted a clarification to BSE Limited regarding a warning letter received for delay in regulatory compliance related to the company's name change process.
Key Quantitative Details and Timeline
The company received ROC approval for the name change on June 26, 2025. The name change application was eventually filed with BSE on May 15, 2026, along with a clarification letter for the delay on June 17, 2026. This represents a delay of approximately 11 months from ROC approval to filing with the exchange.
Regulatory Non-Compliance
BSE has confirmed that the company is in non-compliance with SEBI LODR Regulation 45(3) due to this delay. The exchange will report this non-compliance to SEBI.
Warning Letter Details
The warning letter (Reference: DCS/NC/EG/WL/017/2026-2027) was issued by BSE on June 25, 2026, and was signed by Marian Dsouza, Assistant Vice President at BSE. The letter advises the company to be careful in the future and exercise due caution to avoid recurrence of such lapses.
Company Response and Actions
MSL Global Limited has acknowledged the warning letter and committed to placing the matter before its Board of Directors for consideration and review in an upcoming Board Meeting. The company has stated it will take necessary measures to ensure adherence to prescribed timelines in the future and prevent recurrence of such delays.
Additional Requirements
BSE has instructed the company to intimate the Board meeting details and outcomes when the BSE advisory is placed before the Board of Directors.