Disclosure under Regulation 30 of SEBI (LODR), Regulations, 2015 - Advisory Letter for non-compliance under SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 ['SEBI (ICDR) Regulations']
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Power & Instrumentation (Gujarat) Limited received an advisory letter from NSE on May 8, 2025 flagging two non-compliances under SEBI (ICDR) Regulations. First, warrants allotted on September 21, 2024 were placed under lock-in only from November 22, 2024 and December 11, 2024 — a delay of over two months, violating the 3rd proviso of Regulation 167(1) and 1st proviso of Regulation 167(2). Second, there was a shortfall of Rs. 1,375 in consideration received at the time of equity share allotment (Rs. 3,45,45,500 received against Rs. 3,45,46,875 due) due to decimal calculation issues, violating Regulation 169(2). NSE has only issued an advisory warning the company to exercise due diligence going forward, with no monetary penalty imposed.
This is an advisory rather than a penalty, so immediate financial or operational impact is nil. However, NSE has warned that any repeat violations could attract stricter action, which is a mild negative governance signal worth monitoring.