Manappuram Finance Limited has informed the Exchange regarding ' Intimation Of Violation Of Code Of Conduct Under SEBI (PIT) Regulations,2015'.
MANAPPURAM · price
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Manappuram Finance Limited disclosed a violation of SEBI's Insider Trading Regulations involving an inadvertent share trade. The trade occurred on February 3, 2026, when 2,111 equity shares worth Rs. 6.15 lakh were sold through a discretionary Portfolio Management Services account belonging to Mr. Abhijit Sen, an Independent and Non-Executive Director and Chairman of the Audit Committee. The violation was caused by an operational lapse at the PMS provider's end—despite explicit instructions from Mr. Sen to classify the company's securities as prohibited, the restriction was not implemented at the system level. The company examined the matter through its Compliance Officer, Audit Committee, and Board. Mr. Sen confirmed he was not in possession of any Unpublished Price Sensitive Information and had no intent to violate regulations. A monetary penalty of Rs. 20,000 was imposed on the Designated Person and remitted to SEBI's Investor Protection and Education Fund on April 7, 2026.
The violation is classified as technical and inadvertent with no insider trading intent, and the penalty amount is minimal. The market impact is likely limited, though it may attract some regulatory scrutiny. The company's prompt disclosure and corrective actions demonstrate compliance diligence.