India SEBI Regulatory Enforcement Actions — March 31, 2026

31-03-2026

The Board of E.I.D. - Parry (India) Limited approved the closure of operations of its wholly owned subsidiary Parry Sugars Refinery India Private Limited's (PSRIPL) refinery unit effective close of March 31, 2026, due to accumulated losses of Rs. 1,406 Crores as of March 31, 2025, unviable business model, and structural challenges, with the unit contributing Rs. 4262.45 Crores (13.48%) to company revenue in FY 2024-25 but negative net worth of (Rs. 672.17 Crores). PSRIPL's total liabilities stand at Rs. 998 crores including Rs. 877 crores bank borrowings, expecting to settle Rs. 137 crores from assets, leaving Rs. 740 crores to be funded by the company via approved equity investment up to Rs. 610 Crores and inter-corporate loan up to Rs. 130 Crores, necessitating provisions of Rs. 655 crores and impairment of Rs. 46 crores investment. The company stated it has adequate funds to meet these requirements.

• ·Refinery unit established in 2006 as 2,000 TPD SEZ-based export-oriented unit at Vakalapudi Village, East Godavari, Kakinada.
• ·Equity investment in PSRIPL expected to be completed by May 31, 2026.
• ·PSRIPL melting capacity increased from 2,000 MT to 3,000 MT per day.
• ·Board meeting held on March 31, 2026, from 2:00 pm to 7:00 pm.

31-03-2026

Apollo Healthco Limited (AHL), a material unlisted subsidiary in which Apollo Hospitals Enterprise Limited holds a 78.88% equity stake, has acquired 100% (90,000 equity shares) of Apollo Consumer Products Limited (ACPL) for ₹9.00 Lakh at par value (INR 10 per share). ACPL, incorporated on March 11, 2026, is a newly formed entity yet to commence operations, targeting FMCG business including trading, distribution, and sale of consumer goods via retail, e-commerce, and D2C channels. The acquisition has no significant impact on the listed entity due to its small size.

• ·ACPL date of incorporation: March 11, 2026
• ·ACPL turnover: Not applicable (newly incorporated, yet to commence operations)
• ·No governmental or regulatory approvals required
• ·Transaction completed and at arm's length, falls within related party transactions

31-03-2026

Camlin Fine Sciences Limited received an order dated March 30, 2026, from the Assistant Commissioner, Office of the Asst./Dy. Commissioner of (CGST & C. Ex.), Division-IV, Palghar Commissionerate, demanding IGST of ₹96,65,820, applicable interest, and penalty of ₹96,65,820 for non-payment of tax under Reverse Charge Mechanism on foreign currency expenses reimbursed to subsidiaries during FY 2019-20 to 2022-23. The company states there is no material impact on its financial, operational, or other activities and intends to file an appeal against the order.

• ·Order issued pursuant to Section 74(9) of CGST Act, 2017, with corresponding MGST and IGST Act provisions
• ·Tax liability relates to expenses incurred in foreign currency and reimbursed to foreign subsidiaries
• ·Interest under Section 50 of CGST Act (amount not specified)

31-03-2026

Dr. Patrick J. Ennis (DIN: 07463299) and Mr. Patrick Dupuis (DIN: 07480046), Independent Directors of Wipro Limited, will retire from the Board effective close of business on March 31, 2026, upon completion of their tenure under Section 149(11) of the Companies Act, 2013. The Nomination and Remuneration Committee has been reconstituted with Ms. Tulsi Naidu as Chairperson, Mr. Deepak M Satwalekar and Ms. Päivi Rekonen as Members, effective April 1, 2026. The Administrative and Shareholders/Investors Grievance Committee has been reconstituted with Mr. Deepak M Satwalekar as Chairman, Mr. Rishad A. Premji and Ms. Päivi Rekonen as Members, effective the same date.

• ·Intimation pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
• ·No relationships disclosed between directors; brief profiles not applicable as changes are retirements.
• ·Filing submitted on March 31, 2026.

31-03-2026

Crisil Ratings has assigned a Crisil AA/Stable rating to additional bank loan facilities of ₹12,000 Cr for Adani Power Limited and reaffirmed the Crisil AA/Stable rating for existing bank loan facilities of ₹46,000 Cr and proposed Non-Convertible Debentures (NCDs) of ₹11,000 Cr, totaling ₹69,000 Cr. The rating reflects APL’s robust credit risk profile, supported by its strong market position, large and diversified portfolio, and healthy business risk profile with high capacity and fuel tie-ups. No declines or flat metrics were reported in the disclosure.

• ·Disclosure made pursuant to Regulation 30 of SEBI (LODR) Regulations, 2015.
• ·Information updated on company website: www.adanipower.com.
• ·CIN: L40100GJ1996PLC030533.

31-03-2026

Elecon Engineering Company Limited informed stock exchanges that it paid a GST penalty of ₹11,98,800 under protest to the Dy. Commissioner of State Tax, Enforcement, Div-8, Surat, to secure the release of a detained transport vehicle due to a mismatch in the ship-to consignment name. The direction was received on March 30, 2026, with formal notice on March 31, 2026, and the company intends to file an appeal for a refund via Form GST MOV-09. No material financial or operational impact is foreseen.

• ·Authority: The Dy. Commissioner of State Tax, Enforcement, Div-8, Surat
• ·SEBI Circular reference: HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated 30th January, 2026
• ·Release order: Form GST MOV-05; pending order: Form GST MOV-09

31-03-2026

Adani Enterprises Limited announced the incorporation of a new step-down wholly owned subsidiary, ADANI METALS AND MINERALS FZCO (AMAMF), by its UAE-based step-down subsidiary Adani Global FZE on March 31, 2026. AMAMF is engaged in trading pearls, precious stones, jewelry, non-manufactured precious metals, scrap and waste metals, metal ores, and base non-ferrous metals, with 100% shareholding held by Adani Global FZE. The entity was incorporated with a capital of AED 50,000 via cash consideration at face value.

• ·Confirmation of incorporation received on March 31, 2026 at 02:28 PM IST
• ·No governmental or regulatory approvals required for incorporation
• ·Shares subscribed at face value of Rs. 10 each via cash consideration

31-03-2026

Accel Limited's Board of Directors, at its meeting on March 31, 2026, reviewed BSE's notice of outstanding SOP fines totaling Rs. 4,18,798/- (basic) plus Rs. 75,384/- GST, aggregating Rs. 4,94,182/-, for historical non-compliances with SEBI (LODR) Regulations from March 2015 to September 2025, including delays in disclosures under Regulations 17(1), 23(9), 27(2), 33, and 34. The company has fully paid all fines, reducing the outstanding balance to NIL, though these lapses highlight past procedural shortcomings. The Board has instructed management to implement stronger internal compliance mechanisms to prevent future issues.

• ·Non-compliances span Mar-15 (Reg. 34), Mar-16 (Reg. 27(2) and 33), Mar-17 (Reg. 34), Mar-21 (Reg. 33), Dec-20 (Reg. 17(1)), and Sep-25 (Reg. 23(9)).
• ·BSE notices referenced: Feb 24, 2026 (outstanding fines), Jul 29, 2021, Dec 16, 2025, Jan 01, 2026 (promoter demat freeze reminder).
• ·Compliance mandated under SEBI Master Circular SEBI/HO/CFD/PoD2/CIR/P/0155 dated Nov 11, 2024.

31-03-2026

Uno Minda Limited's subsidiary, Uno Mindarika Private Limited (MRPL), received an order on March 30, 2026, from the Office of the Dy. Excise & Taxation Commissioner, Gurugram, demanding Tax of Rs. 19,77,760, Penalty of Rs. 19,77,760, and Interest of Rs. 23,07,639 for excess ITC claimed in GSTR-3B vs GSTR-2A during tax period 2019-20. MRPL disagrees with the findings and intends to file an appeal. The company states there is no material impact foreseen on its financial, operational, or other activities.

• ·Tax period: 2019-20
• ·NSE Symbol: UNOMINDA; BSE Scrip: 532539
• ·Disclosure reference: Sub-Para 20 of Para A of Part A of Schedule III of SEBI (LODR) Regulations, 2015
• ·Order received: March 30, 2026 around 07:45 P.M. (IST)

31-03-2026

Mangalore Refinery and Petrochemicals Limited, a subsidiary of Oil and Natural Gas Corporation Limited, received an Order-in-Original dated around 30 March 2026 from the Commissioner of Central Excise & Central Tax, Mangaluru, demanding Rs.10,96,99,437 in disallowed GST input tax credit for FY 2019-20 to FY 2023-24, plus a penalty of Rs.12,79,10,256 and applicable interest. The company considers the order unjustified and unsustainable, plans to appeal within the prescribed timeline, and states no significant financial impact given its scale of operations.

• ·Date of receipt of communication: 30 March 2026 at 12:02 PM
• ·Authority: O/o the Commissioner of Central Excise & Central Tax, 4th Floor, Trade Centre, Bunts Hostel Road, Mangaluru - 575003
• ·Order reference: S.No MLR-CGST-000-NDN-ADC-SC-21-2025-26
• ·Filing date: 31 March 2026
• ·Scrip codes: BSE 500109 (EQ), NSE MRPL (EQ); Debentures: 959162, 959250, 973692

31-03-2026

Godavari Biorefineries Limited has intimated the stock exchanges about a scheduled group meeting with investors and analysts on Thursday, 9th April 2026, to be held in physical mode. The meeting details are subject to change, and the company confirms no Unpublished Price Sensitive Information will be discussed. This disclosure is made pursuant to Regulation 30 of SEBI (LODR) Regulations, 2015.

• ·Script Name: GODAVARIB
• ·Script Code: 544279
• ·ISIN: INE497S01012
• ·Membership No.: F-7998

31-03-2026

Greenply Industries Limited disclosed an order dated March 30, 2026, from the Senior Joint Commissioner of State Tax, West Bengal, confirming a tax demand of ₹75,82,119 (already paid under protest), interest of ₹90,86,079, and penalty of ₹75,82,119 for FY 2019-20 related to Input Tax Credit availment. The company maintains a strong case on merits and intends to file rectification or appeal within timelines. It asserts no material impact on financial, operational, or other activities.

• ·Order received on March 30, 2026 at 05:26 PM
• ·Pertains to FY 2019-20 under WBGST/CGST Act, 2017
• ·Company CIN: L20211WB1990PLC268743