Please find enclosed Secretarial Compliance Report for the financial year ended March 31, 2026
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Nippon Life India Asset Management has submitted its annual Secretarial Compliance Report for the financial year ended March 31, 2026, as required under SEBI regulations. M/s M. Siroya and Company, the appointed secretarial auditor, has reported no major compliance violations during the review period. The report confirms the company is compliant with SEBI regulations including LODR, PIT, takeover norms, and mutual fund regulations. Regarding past matters, the company paid a Rs 2 lakh SEBI penalty in August 2024 (related to ETF scheme expenses being charged from AMC books instead of scheme books) and has filed a settlement application with SEBI in October 2024, which remains pending. The company also receives routine advisory warnings from SEBI regarding its mutual fund and portfolio management operations, and takes corrective actions as needed.
The clean compliance report is positive for shareholders, indicating proper adherence to SEBI regulations. The pending settlement application before SEBI for the 2024 penalty is a watch item but not a new development. Routine regulatory warnings are part of normal operations for asset management companies.