Northern arc capital Limited has announced the retirement of Ms. Kshama Fernandes as Non-executive Non-Independent Director upon completion of her tenure. The company informed both BSE Limited and National Stock Exchange of India about this board change through a regulatory filing dated March 31, 2026.

Director Retirement Details

Ms. Kshama Fernandes (DIN: 02539429) completed her tenure as Non-Executive Non-Independent Director and ceased to be a Director of the company with effect from the close of business hours on March 31, 2026. The retirement occurred as a natural conclusion of her directorial term rather than due to resignation or removal.

Regulatory Compliance

The company filed the intimation under Regulation 30 and 51 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure also complies with SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/1/3762/2026 dated January 30, 2026.

Company's Acknowledgment

The Board of Directors and Management of Northern Arc Capital Limited placed on record their sincere appreciation for the valuable contribution and guidance provided by Ms. Kshama Fernandes during her association with the company as a Non-executive Non-Independent Director. The company has also uploaded this intimation on its official website at www.northernarc.com .

Corporate Information

The filing was signed by Prakash Chandra Panda, Company Secretary & Compliance Officer, and was digitally authenticated on March 31, 2026. Northern Arc Capital Limited is registered in Chennai with its office located at 10th Floor, Phase-I, IIT-Madras Research Park, Kanagam Village, Taramani, Chennai.

Northern arc capital Limited has been imposed a penalty of Rs 2.7 lakhs by the Reserve Bank of India for contraventions related to Know Your Customer compliance requirements. The financial services company disclosed this regulatory action through an official intimation to stock exchanges on January 31, 2026, in compliance with SEBI listing regulations.

Penalty Details and Regulatory Framework

The Reserve Bank of India imposed the penalty under Section 58G(1)(b) read with Section 58B(5)(aa) of the Reserve Bank of India Act, 1934. The speaking order was received by the company via email on January 30, 2026, and relates to the company's financial position as on March 31, 2024.

Nature of Compliance Violation

The penalty stems from contravention of Direction 50 of Reserve Bank of India (Know Your Customer) Directions, 2016. Specifically, the violation relates to the absence of automated software for generation of Anti-Money Laundering alerts during the review period. This represents a significant compliance gap in the company's AML monitoring systems, which are critical for financial institutions to detect and prevent money laundering activities.

Company Response and Corrective Measures

Northern Arc Capital has acknowledged the regulatory action and confirmed that corrective measures have been implemented. The company stated that it has undertaken corrective action to address the compliance issue and has put necessary processes in place at present. This indicates the company's commitment to strengthening its compliance framework and ensuring adherence to regulatory requirements.

Financial Impact and Disclosure Compliance

The monetary impact of the penalty is quantified at Rs 2.7 lakhs, which represents the direct financial implication for the company. The disclosure was made under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, demonstrating the company's commitment to transparency and regulatory compliance in its communications with stakeholders.

Regulatory Context

This penalty highlights the importance of robust AML compliance systems in the financial services sector. The absence of automated software for AML alert generation represents a critical gap in monitoring systems that financial institutions are required to maintain under RBI's KYC directions. The regulatory action underscores RBI's continued focus on ensuring comprehensive compliance with anti-money laundering frameworks across the financial services industry.