Markolines pavement technologies Limited has announced the settlement of a regulatory matter with the Securities and Exchange Board of India (SEBI) through an official disclosure made on April 30, 2026. The company received a settlement order from SEBI concerning alleged non-compliance with regulatory disclosure requirements under Regulation 32 of SEBI (LODR) Regulations, 2015.

Settlement Details and Financial Impact

The regulatory settlement involves a monetary penalty that the company has addressed through the SEBI Settlement Proceedings framework. Key financial and procedural aspects of the settlement include:

Nature of Regulatory Non-Compliance

The SEBI settlement order pertains to alleged violations involving delayed or missed submission of statements regarding deviation or variation in utilization of funds raised through public issue. The specific compliance issue occurred during the financial year 2021-22, relating to requirements under Regulation 32 of SEBI (LODR) Regulations, 2015.

According to the company's official disclosure, being relatively new to listing compliances and stock exchange system requirements following its 2021 listing, it inadvertently missed filing the Statement of Deviation of funds under Regulation 32. However, upon becoming aware of these omissions, the company promptly made the necessary submissions and responded to all communications from stock exchanges.

Regulatory Framework and Official Disclosure

SEBI passed the settlement order under the SEBI (Settlement Proceedings) Regulations, 2018, providing a framework for resolving regulatory matters without prolonged proceedings. The company made the disclosure pursuant to Regulation 30 read with Schedule III of the SEBI (LODR) Regulations, 2015.

Corporate Compliance and Future Measures

Following the identification of compliance gaps, Markolines Pavement Technologies has undertaken comprehensive corrective measures to strengthen its regulatory adherence. The company has completed all necessary corrective filings to ensure full compliance with applicable requirements and has established enhanced compliance protocols.

The management emphasized in their official disclosure that the penalty amount is insignificant compared to the company's overall revenue and profitability, indicating minimal impact on business operations. The settlement concludes SEBI's proceedings in this matter, allowing the company to focus on its core business activities while maintaining strengthened compliance frameworks.

The company remains committed to ensuring full compliance with all applicable regulatory requirements going forward, having learned from this experience as a relatively new listed entity.

Markolines pavement technologies Limited has announced the appointment of Mr. Aniruddha Hublikar as Company Secretary & Compliance Officer, effective April 29, 2026. The decision was made during a board meeting held on the same date, following recommendations from the company's Nomination and Remuneration Committee.

Board Meeting Details

The Board of Directors convened on Wednesday, April 29, 2026, to deliberate on key appointments. The meeting commenced at 6.00 p.m. and concluded at 6.50 p.m. at the company's registered office. The primary agenda focused on the appointment of the new Company Secretary & Compliance Officer and related incidental matters.

New Appointee Profile

Mr. Aniruddha Hublikar brings substantial expertise to his new role. He holds the designation ACS 55323 as an Associate Member of the Institute of Company Secretaries of India and possesses a Master of Law degree. His professional background spans over eight years in secretarial and compliance functions, during which he has successfully managed various specialized secretarial assignments across different organizations.

Regulatory Compliance

The appointment was formally communicated to both BSE Limited and National Stock Exchange of India Limited in accordance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has provided comprehensive disclosure details as required under the applicable regulations, ensuring full transparency regarding the new appointment.

Chairman & Managing Director Sanjay Patil signed the official communication, emphasizing the company's commitment to regulatory compliance and corporate governance standards. The appointment reflects the company's focus on strengthening its compliance framework through experienced professionals in the secretarial domain.