Re-submission of Disclosure of information (Dated 25.03.2025) pursuant to Regulation 30 of SEBI LODR Regulations alongwith SEBI Administrative Warning letter dated 25.03.2025
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Awaiting price reaction for this filing.
UP Hotels Ltd disclosed receiving an Administrative Warning Letter from SEBI dated March 25, 2025, for violation of Regulation 31(2) of SEBI LODR Regulations and SEBI Circular dated June 17, 2011. The issue is that 2.67% of the promoter and promoter group shareholding is still held in physical form (not dematerialized). SEBI noted that while the company had previously dematerialized shares of two promoters (Aditya Kumar and Apurv Kumar), a small portion remains in physical form. SEBI has directed the company to achieve 100% dematerialization, warned it to improve compliance standards, and required the matter to be placed before the Board with comments sent back to SEBI within 15 days.
No direct monetary impact on the company as stated. However, this is a regulatory warning that flags ongoing non-compliance; failure to rectify could invite stricter enforcement action from SEBI in the future, which is a minor negative governance signal for shareholders.