Peninsula Land Limited has received an administrative warning from the Securities and Exchange Board of India (SEBI) for violating disclosure norms under the Listing Obligations and Disclosure Requirements (LODR) Regulations, 2015. The warning was issued on April 30, 2026, highlighting significant delays in disclosing material events related to alleged fraudulent transactions.

Nature of the Violation

SEBI's administrative warning centers on Peninsula Land's delayed disclosure of alleged fraudulent transactions in its joint venture with K B Kothari Group (KBK Group). The regulator identified a critical timeline gap between the company's knowledge of the fraud and its public disclosure.

Regulatory Requirements Breached

SEBI highlighted specific violations of the LODR Regulations in its warning letter bearing reference number HO/49/13/11(235)2026-CFD-SEC5 I/10569/2026. Under Regulation 30(1) read with Schedule III, listed entities must disclose material events promptly upon occurrence or upon becoming aware of them. Additionally, Regulation 30(7) requires regular updates on such events until resolution.

The key regulatory breaches identified include:

• Delayed Initial Disclosure: The company should have made the initial disclosure on April 10, 2024, when the police complaint was filed
• Inadequate Update Process: The March 20, 2025 disclosure should have been an update under Regulation 30(7) rather than the initial disclosure
• Incomplete Information: The disclosure failed to clearly distinguish between amounts under investigation and established fraud cases

Financial Impact and Disclosure Issues

SEBI noted significant concerns regarding the accuracy and completeness of Peninsula Land's disclosure dated March 20, 2025. The disclosure reflected an amount of approximately ₹200.00 crore as the extent of alleged fraud and expected recovery, without clearly distinguishing between different categories of amounts.

SEBI's Directives and Future Compliance

The regulator has issued several specific directives to Peninsula Land Limited. The company must review and make necessary corrections to its March 20, 2025 disclosure, clearly presenting the factual position and distinguishing between amounts under investigation and established fraud cases.

SEBI has warned that any repetition of such violations will be viewed seriously, with appropriate enforcement action initiated under the SEBI Act, 1992. The company is also required to place this communication before its Board of Directors and forward their comments to SEBI within 15 days of the board meeting.

Company's Formal Response to Stock Exchanges

Peninsula Land Limited, through its Company Secretary and Compliance Officer Pooja Sutradhar, has formally communicated the receipt of SEBI's administrative warning to both BSE Limited and National Stock Exchange of India Limited on April 30, 2026. The company's communication was digitally signed and submitted at 18:19:02 IST.

The company stated it is reviewing the SEBI communication in detail and will take necessary and appropriate actions. In compliance with Regulation 30 of LODR Regulations, the company has disclosed the warning to the stock exchanges as required, treating it as compliance with applicable LODR provisions.

Peninsula land Limited has submitted its mandatory compliance certificate to stock exchanges for the quarter ended March 31, 2026, in accordance with SEBI regulatory requirements. The filing demonstrates the company's adherence to depositories and participants regulations governing securities dematerialization processes.

Regulatory Compliance Filing

The company filed the certificate on April 03, 2026, with both BSE Limited and National Stock Exchange of India Limited. The submission was made pursuant to Regulation 74(5) of the Securities and Exchange Board of India (Depositories and Participants) Regulations, 2018.

Certificate Confirmation

Purva Sharegistry (I) Private Limited, serving as the company's Registrar and Transfer Agent, issued the confirmation certificate. The registrar holds SEBI registration number INR000001112 and operates as a Category 1 Registrar for IPO and Share Transfer services.

The certificate confirms several key compliance aspects:

• Securities received from depository participants for dematerialization during the quarter were properly confirmed to depositories
• All security certificates received for dematerialization were appropriately confirmed or rejected
• Received certificates were mutilated and cancelled after due verification by depository participants
• Depository names were substituted in the register of members as registered owners within prescribed timelines

Administrative Details

The filing was executed by Pooja Sutradhar, Company Secretary and Compliance Officer, holding membership number A40807. Ms. Deepali Gaonkar, Compliance Officer at Purva Sharegistry, signed the confirmation certificate on behalf of the registrar.

This quarterly compliance certificate represents standard regulatory filing requirements for listed companies, ensuring transparency in securities dematerialization processes and maintaining investor protection standards as mandated by SEBI regulations.