Kotak Mahindra Bank Limited has issued a regulatory disclosure regarding newspaper advertisement publication in compliance with SEBI regulations. The company published the notice under Regulation 30 and Regulation 47 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Regulatory Compliance Details

The company disclosed the publication of newspaper notices on March 26, 2026, related to SEBI circular HO/38/13/11(2)2026-MIRSD-PoD/1/3750/2026 dated January 30, 2026. The disclosure was made to both BSE Limited and National Stock Exchange of India Limited where the company is listed.

Stock Exchange Communication

Kotak Mahindra Bank submitted the regulatory disclosure to both major Indian stock exchanges with comprehensive scrip code and symbol information:

Special Window for Physical Securities

The notice informs equity shareholders about a special window introduced by SEBI for transfer and dematerialisation of physical securities. This window is specifically for securities that were sold or purchased prior to April 01, 2019.

Key Features of the Special Window:

• Coverage: Securities sold/purchased prior to April 01, 2019
• Processing: Only in demat form with applicable regulatory compliance
• Scope: Transfer requests for physical securities requiring dematerialisation
• Regulatory Framework: In line with SEBI circular dated January 30, 2026

Required Documentation and Process

Shareholders need to submit specific documents to the company's Registrar and Transfer Agent KFin Technologies Limited for processing their transfer requests:

Contact Information

The bank has made the information available on its website under the investor relations section and requested both stock exchanges to take the disclosure on record and disseminate the same on their respective websites.

Surya Roshni Limited's Board of Directors has addressed a compliance matter concerning the delayed appointment of an independent director, which resulted in regulatory penalties from both major stock exchanges.

Independent Director Appointment Details

The company appointed Mr. Ravi Kant Gupta (DIN: 03111902) as an Additional Director (Non-Executive; Independent) on July 17, 2025, for a period of five consecutive years. This appointment was subsequently approved by shareholders at the Annual General Meeting held on September 18, 2025.

Regulatory Non-Compliance and Penalties

Both NSE and BSE identified non-compliance with Regulation 17(1) of the Listing Regulations and imposed penalties on the company. The exchanges issued communications on November 28, 2025, imposing fines for the delayed compliance.

The company has already paid the imposed fines of Rs. 80,000 to each exchange as a mark of adopting good governance practices.

Previous Compliance Issues

This was not the first instance of such non-compliance. The exchanges had earlier imposed fines of Rs. 2,80,000 each for 56 days of delayed compliance for the quarter ended June 30, 2025. These fines were subsequently paid to the exchanges and the matter was placed before the Board Meeting dated November 11, 2025.

Board Comments and Justification

At the Board meeting held on February 11, 2026, the directors reviewed the matter and provided their observations. The Board clarified that the delay was purely inadvertent, without any mala fide intent, and stemmed from genuine challenges in the candidate selection process.

The company emphasized that identifying a suitable candidate required finding an individual who:

• Meets all regulatory requirements
• Possesses the necessary stature and independence
• Has the integrity required to contribute meaningfully to company governance

Given the size and nature of the company, the Board stated that this identification process required reasonable time and diligence.

Waiver Applications and Future Actions

Surya Roshni Limited has filed waiver applications for the imposed fines with both exchanges, particularly with BSE as per the Policy for exemption of fines under SEBI SOP Circular No. SEBI/HO/CFD/CMD/CIR/P/2020/12 dated January 22, 2020.

The Board has also deliberated on seeking requisite remedy under SEBI laws in case the waiver requests are not accepted by the exchanges. The company submitted multiple communications to both exchanges on November 29, 2025, December 4, 2025, and December 5, 2025, explaining the circumstances of the delay.