New Delhi, April 25 (SocialNews.XYZ) The Securities and Exchange Board of India (SEBI) has issued an administrative warning to Manappuram Finance Ltd Chairman and Managing Director, V.P. Nandakumar, for delayed disclosure of share pledge transactions, the company said in a regulatory filing on Saturday.
The warning was issued via a letter dated April 24 related to a delay in disclosure of pledge of shares by the NBFC's CMD in his personal capacity for transactions carried out between September 21 and September 24, 2018.
According to the disclosure, the required intimation was made on October 11, 2018, reflecting a delay of seven days.
The company clarified that the communication has been issued to Nandakumar in his personal capacity and does not have any financial, operational or other impact on Manappuram Finance Ltd.
“No penalty or restriction has been imposed pursuant to the communication,” the filing noted.
Earlier this month, the company said it had reported a violation of its code of conduct under insider trading rules, involving a transaction carried out through the portfolio management services (PMS) account of one of its independent directors.
The company said the trade was linked to Abhijit Sen, an Independent and Non-Executive Director, who also serves as Chairman of the Audit Committee.
Shares of Manappuram Finance ended about 1 per cent lower at Rs 289.65 apiece on the NSE on Friday. The stock has declined around 8 per cent so far this year. It has touched a 52-week high of Rs 321 and a low of Rs 222.51.
The company reported a consolidated profit after tax (PAT) of Rs 239 crore in Q3FY26, a 14 per cent decline from the corresponding period in the previous year.
Net interest income (NII) fell 18.36 per cent year-on-year to Rs 1,298.9 crore, while consolidated revenue from operations stood at Rs 2,353 crore, down 8 per cent.
Meanwhile, consolidated assets under management (AUM) rose 18.1 per cent to Rs 522 billion during the quarter.
Source: IANS
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