Dhanlaxmi Bank reported two instances of non-compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations during the financial year ended March 31, 2026, resulting in monetary penalties. The bank was fined for delays in submitting disclosures regarding related party transactions and the utilization of proceeds from non-convertible securities. These details were disclosed in the Secretarial Compliance Report for FY26, filed pursuant to Regulation 24A of the SEBI LODR Regulations, 2015.

The first deviation involved a delay in filing the half-yearly disclosure of related party transactions for the period ended March 31, 2025. The disclosure was submitted 15 days beyond the stipulated deadline. Consequently, BSE imposed a fine of Rs 75,000 plus GST. The bank stated that the delay was caused by unforeseen external technical glitches in the reporting system which impeded the submission process. The penalty has been paid, and the intimation was filed with the stock exchanges.

In the second instance, the bank delayed filing a statement indicating the utilization of issue proceeds of non-convertible securities for the quarter ended June 30, 2025. This submission was made 24 days late. The National Stock Exchange of India Limited (NSE) imposed a fine of Rs 24,000 plus GST for this lapse. The bank has paid the penalty and informed the exchanges. Management attributed the delay to technical issues and noted that additional checks have been put in place to avoid recurrence.

The Practicing Company Secretary, M Vasudevan, examined the bank's compliance with various regulations, including the SEBI Act, 1992, the SCRA, 1956, and specific SEBI regulations such as LODR, Issue of Capital and Disclosure Requirements, and Prohibition of Insider Trading. The report confirmed that the bank has complied with all provisions except for the matters specified in the table of deviations.

The report also confirmed that the bank has no subsidiaries, and no directors were disqualified under Section 164 of the Companies Act, 2013. All applicable policies under SEBI Regulations were adopted and updated timely. The bank maintained a functional website with accurate web-links and preserved records as prescribed. No related party transactions requiring audit committee approval were entered into during the period, other than remuneration paid to the Managing Director & CEO and Executive Director, for which shareholder approvals were obtained.

Dhanlaxmi Bank has informed the stock exchanges that Mr. Balasubramanian A.D has completed his tenure as the Chief Vigilance Officer of the Bank. The tenure concluded on May 24, 2026. This disclosure impacts the bank's internal compliance oversight structure, though the bank has not yet named a successor.

The notification was submitted to BSE Limited and National Stock Exchange of India Limited on May 25, 2026. The filing was made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The bank also referenced the SEBI Master Circular dated January 30, 2026, regarding the disclosure of events.

Details of the Change

The bank provided a structured disclosure of the event in its filing. The specific reason cited was the completion of the tenure of Mr. Balasubramanian A.D.

The communication was digitally signed by Venkatesh H, the Company Secretary & Secretary to the Board. The filing referenced as SH: 14 / 2026-27 requested that the exchanges place the information on record.