Gujarat mineral development corporation Limited has submitted its quarterly compliance certificate to the Bombay Stock Exchange and National Stock Exchange of India for the quarter ended March 31, 2026. The submission fulfills the company's regulatory obligations under SEBI (Depositories and Participants) Regulation, 2018.

Regulatory Compliance Certificate Details

The confirmation certificate was issued by MCS Share Transfer Agent Limited, serving as the company's Registrar and Share Transfer Agent (RTA). The certificate, dated April 7, 2026, addresses compliance requirements under Regulation 74(5) of the Securities and Exchange Board of India (Depositories and Participants) Regulation, 2018.

Dematerialization Process Confirmation

The certificate confirms that securities received from depository participants for dematerialization during the quarter were properly processed and confirmed to the depositories. MCS Share Transfer Agent Limited verified that all security certificates received for dematerialization were mutilated and cancelled after due verification by the depository participant.

Key compliance confirmations include:

• Securities received from depository participants were accepted or rejected appropriately
• All securities comprised in the certificates have been listed on stock exchanges where earlier issued securities are listed
• Security certificates were properly mutilated and cancelled after verification
• Names of depositories were substituted in the register of members as registered owners within the mandated 15-day period

Corporate Communication

The formal communication to both stock exchanges was made on April 13, 2026, through a letter signed by the Company Secretary. Gujarat Mineral Development Corporation Limited, identified by CIN L14100GJ1963SGC001206, operates as a Government of Gujarat Enterprise with its registered office located at Khanij Bhavan, Vastrapur, Ahmedabad.

This quarterly submission demonstrates the company's continued adherence to regulatory frameworks governing depositories and participants, ensuring transparency and proper handling of securities transactions for its stakeholders.

Gujarat mineral development corporation has received an administrative warning from the Securities and Exchange Board of India (SEBI) for deficiencies in disclosure practices. The company disclosed this regulatory action in a filing dated April 08, 2026, pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

SEBI Investigation and Findings

The administrative warning stems from SEBI's investigation into suspected insider trading activities in Gujarat Mineral Development Corporation's scrip during the period from December 01, 2023 to January 31, 2024. During this investigation, SEBI identified discrepancies in the company's disclosure practices.

Disclosure Deficiency Details

SEBI observed that the company's press release dated January 08, 2024, regarding receipt of Environmental Clearance for capacity expansion of Surkha (N) Lignite Mine, did not adequately reflect the factual position. The press release disclosed receipt of environmental clearance for capacity expansion from 3 MTPA to 5 MTPA of lignite by the Ministry of Environment, Forest and Climate Change.

However, SEBI noted that the actual MOEFCC letter granting approval for environmental clearance was dated February 16, 2024, which was submitted by the company in its response dated November 26, 2025. This timing discrepancy formed the basis of SEBI's concern about the adequacy of the original disclosure.

Regulatory Action and Impact

The administrative warning does not impose any monetary penalty on Gujarat Mineral Development Corporation. The company has confirmed that this regulatory action has no material impact on its financial position, operations, or other activities.

Company Response and Future Compliance

SEBI has advised Gujarat Mineral Development Corporation to exercise due care in future disclosures and strengthen compliance standards to avoid recurrence of such instances. The regulatory body warned that failure to improve compliance standards could result in further action under the provisions of SEBI Act, 1992 and related rules and regulations.

The company has acknowledged the warning and indicated its commitment to enhanced disclosure practices going forward. This administrative warning serves as a reminder of the importance of accurate and timely disclosure in compliance with listing regulations.