India SEBI Regulatory Enforcement Actions — March 11, 2026

11-03-2026

Kirloskar Industries Limited was issued a notice by NSE on 13 February 2026 for a one-day delay in compliance with Regulation 31(1) of SEBI Listing Regulations for the quarter ended 31 December 2025, leading to a fine of ₹2,000 plus 18% GST (total ₹2,360). The company submitted a waiver application on 20 February 2026, and the Board of Directors took note of the notice and actions in its meeting on 11 March 2026. No payment has been confirmed, and potential further actions like promoter shareholding freeze loom if unresolved.

• ·Notice reference: NSE/LIST-SOP/FINES/0155 dated 13 February 2026
• ·Non-compliance specific to quarter ended 31 December 2025
• ·Waiver application submitted via NEAPS on 20 February 2026
• ·Board required to be informed, comments disseminated as 'Board comments on fine levied by the Exchange'

11-03-2026

Gujarat State Petronet Limited (GSPL) received fines of ₹53,100 each (basic fine ₹45,000 + 18% GST ₹8,100) from BSE and NSE for non-compliance with Regulation 17(1) of SEBI LODR on board composition during the quarter ended December 31, 2025, attributed to 9 days of violation at ₹5,000 per day. The Board met on March 11, 2026, took the notices on record, and decided to file waiver applications with both exchanges. No fines have been paid yet; waiver requires processing fee of ₹11,800 (₹10,000 + 18% GST) to the designated exchange.

• ·Non-compliance pertains to board composition under Regulation 17(1) SEBI LODR for quarter ended Dec 31, 2025.
• ·Fines notices dated February 27, 2026 (both exchanges); BSE follow-up email March 4, 2026.
• ·Waiver applications to be submitted via BSE Listing Centre and NSE NEAPS portals.

11-03-2026

GIC Private Limited, acting on behalf of Government of Singapore (GOS) and Monetary Authority of Singapore (MAS), disclosed a sale of 485,902 equity shares (0.126%) of InterGlobe Aviation Limited on March 9, 2026, via open market, reducing their combined holding from 12,022,212 shares (3.110%) to 11,536,310 shares (2.984%). GOS's stake fell from 2.512% to 2.405%, while MAS's declined from 0.598% to 0.579%. This follows prior sales since December 2024, when holdings were at 5.00%.

• ·Disclosure triggered under Regulation 29(2) of SEBI (SAST) Regulations due to aggregate sales since Dec 2024 reducing stake below thresholds.
• ·Mode of transaction: Open Market Sale.
• ·Total paid-up equity share capital increased to 386,612,998 shares on Mar 5, 2026 post ESOP allotment.

11-03-2026

Cummins India Limited's Board, at its meeting on March 11, 2026, reviewed fines of ₹2,000 plus 18% GST (total ₹2,360 each) levied by BSE and NSE for non-compliance with Regulation 18(1) of SEBI LODR regarding audit committee constitution for the quarter ended December 31, 2025. The company described the lapse as inadvertent, confirmed payment of fines within timelines, reconstitution of the Audit and Compliance Committee effective November 11, 2025, and filing of a waiver application with outcome awaited. The Board reaffirmed commitment to regulatory compliance.

• ·Non-compliance pertains to constitution of audit committee under Regulation 18(1) for quarter ended December 31, 2025.
• ·SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024.
• ·Stock exchange emails dated February 27, 2026.
• ·Waiver application filed via NEAPS portal; processing fee of ₹10,000 + 18% GST applicable if fine > ₹5,000.

11-03-2026

Adani Defence Systems & Technologies Ltd (ADSTL), a wholly owned subsidiary of Adani Enterprises Limited, has completed the acquisition of an additional 14.2% stake in Air Works India (Engineering) Pvt. Ltd from Punj Lloyd Aviation Ltd, increasing its ownership from 85.76% to 99.98% at an enterprise value of ₹400 Cr. Air Works, engaged in aircraft MRO services, reported audited turnover growth to ₹571 Cr in FY24-25 from ₹356 Cr in FY23-24 (up ~60% YoY), though revenue was largely flat at ~₹354-356 Cr between FY22-23 and FY23-24. This move expands Adani's footprint in the aviation services sector.

• ·Acquisition completed on March 11, 2026 at 4:58 PM IST
• ·Transaction not a related party transaction; no governmental approvals required
• ·Air Works established in 1951; India's largest privately-owned aviation services & MRO company

11-03-2026

Adani Ports and Special Economic Zone Limited has been assigned a Long-Term Foreign Currency Issuer Rating of ‘CareEdge BBB+/Stable’ by CareEdge Global. This intimation complies with Regulation 30(6) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and was disclosed on March 11, 2026. No comparative prior ratings or negative factors were mentioned.

• ·Reference No: APSEZL/SECT/2025-26/149
• ·Scrip Codes: 532921 (BSE), ADANIPORTS (NSE)

11-03-2026

Sparkle Gold Rock Limited (formerly Sree Jayalakshmi Autospin Limited) has clarified that a penalty order issued by the Office of the Principal Commissioner of Customs, Chennai-III on December 15, 2025, applies solely to Sree Jayalakshmi Autospin Private Limited and imposes no liability on the company. The current board of directors states it was not involved in the alleged transactions, which lack substantive proof and pertain to a prior period. The company has filed objections and is pursuing legal recourse, with no financial impact disclosed.

• ·CIN: L32111RJ1991PLC106196
• ·Scrip Code: 530037
• ·Previous BSE announcement date: January 21, 2026
• ·Director DIN: 09831479