Manappuram Finance’s Chairman and Managing Director, V.P. Nandakumar, has received an administrative warning from the Securities and Exchange Board of India (SEBI) for delayed disclosure of encumbrance of shares. The warning, issued in Nandakumar’s personal capacity, pertains to transactions that occurred between September 21 and September 24, 2018, with the disclosure being made seven days late on October 11, 2018.
The SEBI warning letter, dated April 24, 2026, highlights the violation of Regulation 31(1) read with Regulation 31(3) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The letter was addressed directly to Nandakumar, emphasising that the delay in disclosure was a breach of the regulatory requirements.
Despite the warning, Manappuram Finance has clarified that there are no financial implications for the company itself, as the issue is related to Nandakumar’s personal actions. The company has not faced any penalties or sanctions as a result of this administrative warning.
The company secretary, Aparna Menon, confirmed that all information provided in the disclosure is true and in compliance with SEBI regulations. Manappuram Finance has requested that the details of the warning be taken on record.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).