Delphi World Money reappointed Hariprasad Meenoth Panichikkil as Whole-Time Director for a five-year term starting February 11, 2027. The board also scheduled the company’s 41st Annual General Meeting for September 30, 2026.

The decision was taken during the board meeting held on August 31, 2026. The appointment follows the recommendation of the Nomination and Remuneration Committee and is subject to shareholder approval at the upcoming AGM.

Leadership Continuity

Mr. Panichikkil will serve without remuneration for the period from February 11, 2027, to February 10, 2032. He brings extensive experience in treasury and foreign exchange operations, having joined the holding company, Ebixcash World Money Limited, in June 2008.

His responsibilities include managing business and treasury functions, with key result areas focused on quality initiatives and strategic direction. The board noted his expertise in customizing financial solutions for changing market requirements.

AGM Details

The 41st Annual General Meeting will be conducted via video conferencing or other audio-visual means. The event is deemed to be convened at the company’s registered office in Mumbai.

The register of members and share transfer books will remain closed from September 23, 2026, to September 30, 2026, to determine eligibility for the meeting. Mr. Rahul Khadriya of SRC & Co., Practising Company Secretaries, was appointed as the scrutinizer for the event.

Delphi World Money has received an administrative warning from the Securities and Exchange Board of India (SEBI) for failing to timely disclose material legal proceedings. The regulator’s Corporation Finance Department, Supervision Enforcement and Complaints (SEC-5) issued the communication on August 04, 2026, citing violations of Regulation 4 and Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The warning highlights lapses in transparency regarding litigation involving Bull Value Incorporated VCC sub fund, raising compliance concerns for investors monitoring the company’s governance standards.

The regulatory action stems from two specific disclosure failures observed by SEBI. First, the company failed to disclose six pending litigations filed by Bull Value Incorporated VCC sub fund on dates ranging from November 15, 2025, to December 13, 2025, under Regulation 30 read with Sub-para 8 of Para B of Part A of Schedule III. Second, Delphi World Money did not attach a copy of a court order dated November 27, 2025, to its disclosure submitted on December 2, 2025, violating Regulation 4(1)(d)(e) read with Regulation 30. These omissions breached mandatory transparency norms designed to keep market participants informed of material legal risks.

Key Compliance Lapses

The following table details the specific violations cited in the administrative warning letter bearing reference no. HO/49/13/11(408)2026-CFD-SEC5-I/17467/2026:

SEBI emphasized that these non-compliances were viewed seriously. The regulator advised the company and its Board of Directors to exercise due care in future disclosures to avoid recurrence. The warning letter explicitly stated that any repetition of such violations would invite appropriate enforcement action under the SEBI Act, 1992, and related rules.

Company Response and Next Steps

Delphi World Money disclosed the receipt of the warning to the National Stock Exchange of India Limited and BSE Limited pursuant to Regulation 30 of the SEBI LODR Regulations. The company confirmed that the administrative warning does not impose any monetary penalty or financial liability. Consequently, management assessed there is no quantifiable monetary impact on the company’s financial position and no material impact on its operations or other activities.

Vinay Singh, Company Secretary & Compliance Officer, signed the disclosure on behalf of the company. As mandated by SEBI, the communication will be placed before the Board of Directors at its ensuing meeting. The Board is required to submit comments to SEBI regarding whether they are satisfied with the corrective steps taken to ensure future compliance. This procedural step underscores the regulator’s focus on board-level accountability for listing obligations.