Purple Entertainment Limited has reported the death of its Independent Director, Mrs. Manjulaben Navinchandra Kothari, in a delayed disclosure to the Bombay Stock Exchange (BSE). The company's announcement, made on November 3, 2025, reveals a significant gap between the event and its public disclosure, raising questions about compliance with regulatory requirements.

Key Details of the Announcement

Regulatory Context and Company's Response

Purple Entertainment Limited acknowledged the delay in reporting this material event, citing the unavailability of the official death certificate and pending confirmation from family members as reasons for the late disclosure. The company stated that it received the death certificate on November 1, 2025, which prompted the subsequent announcement.

In its communication to the BSE, Purple Entertainment emphasized that the delay was unintentional. The company expressed regret for the late submission and assured stakeholders of its commitment to ensuring timely disclosure of material events in the future, in compliance with Regulation 30 of the Securities and Exchange Board of India (SEBI) Listing Obligations and Disclosure Requirements (LODR) Regulations, 2015.

Implications and Compliance Considerations

This incident highlights the importance of prompt and accurate disclosure of material events by listed companies. SEBI regulations require immediate disclosure of such information to ensure transparency and protect investor interests. The significant delay in this case may raise concerns about the company's internal processes for identifying and reporting material events.

While Purple Entertainment has provided an explanation for the delay, this situation underscores the need for robust systems and procedures to ensure timely compliance with regulatory requirements, even in challenging circumstances. Investors and regulatory bodies may closely monitor the company's future disclosures to assess its commitment to improved compliance practices.

Purple Entertainment Limited has officially announced the demise of Mrs. Manjulaben Navinchandra Kothari, who served as an Independent Director on the company's board. The company informed the Bombay Stock Exchange about this development on November 1, 2025, after receiving the official death certificate.

Key Details

Company's Statement

In its official communication to the Bombay Stock Exchange, Purple Entertainment Limited expressed deep sorrow over Mrs. Kothari's passing. The company acknowledged her valuable contributions during her tenure as an Independent Director and conveyed heartfelt condolences to her family.

Regulatory Compliance

This announcement was made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has provided the necessary details as required under the regulations, including the reason for the change in directorship and the effective date of cessation.

About Purple Entertainment Limited

Purple Entertainment Limited, with its registered office in Ahmedabad, Gujarat, is listed on the Bombay Stock Exchange. The company operates in the entertainment sector, though specific details about its operations were not provided in the current announcement.

The passing of an Independent Director is a significant event for any listed company, as these directors play a crucial role in maintaining corporate governance standards and providing unbiased oversight of company operations.