India SEBI Regulatory Enforcement Actions — April 24, 2026

India Regulatory Enforcement Actions

50 high priority50 total filings analysed

Executive Summary

Across 50 filings in the India Regulatory Enforcement Actions stream (April 2026), 48 are routine neutral confirmations of non-Large Corporate (LC) status under SEBI circulars, highlighting widespread low outstanding borrowings (nil or <₹100 Cr in 95% of cases), signaling strong balance sheet health and minimal leverage risk among small/mid-cap listed firms. Reliance Industries (RIL) reported robust FY25-26 growth with consolidated revenue +9.8% YoY to ₹11.75L Cr, EBITDA +13.4% YoY, PAT +17.8% YoY, though Q4 PAT -8.9% YoY due to energy weakness (mixed sentiment). Yes Bank showcased turnaround with FY26 net profit +44.5% YoY to ₹3,476 Cr, NIM +20 bps YoY to 2.7%, GNPA at 1.3% (positive). Belstar Microfinance (₹6,707 Cr borrowings, AA/Stable) and Cyqure India (₹3,000 Cr, BBB-) are rare LC qualifiers with elevated debt. SJVN faces ₹5.43L fines for board non-compliance (negative). Portfolio implication: Low debt prevalence reduces systemic credit risk; focus on growth outliers like RIL consumer/Digital (+16-18% EBITDA YoY) and Yes Bank asset quality.

Tracking the trend? Catch up on the prior India SEBI Regulatory Enforcement Actions digest from April 17, 2026.

Investment Signals(12)

  • FY25-26 revenue +9.8% YoY to ₹11.75L Cr, EBITDA +13.4% YoY to ₹2.08L Cr, PAT +17.8% YoY to ₹95,754 Cr; Digital +18% EBITDA, Retail +8%, standalone PAT +24.4% YoY

  • Yes Bank(BULLISH)

    FY26 net profit +44.5% YoY to ₹3,476 Cr, Q4 +44.7% YoY to ₹1,068 Cr; NII +9.3% YoY, NIM +20 bps to 2.7%, advances +11.1% YoY, deposits +12.1% YoY, GNPA 1.3% (lowest in 24Q)

  • Reliance Industries (Consumer)(BULLISH)

    Resilient Q4 Digital Services EBITDA +16% YoY, Retail +3% YoY despite energy drag (O2C -3.7%, Oil&Gas -18.1%); JPL PAT +15.1% YoY to ₹30,049 Cr

  • Yes Bank (Asset Quality)(BULLISH)

    NNPA 0.2% (lowest 24Q), PCR 81.9%, credit costs 0.2%; CASA +80 bps YoY to 35.1%, cost-to-income -470 bps YoY to 66.7%

  • Outstanding borrowings just ₹0.30 Cr (low vs peers), confirms non-LC, no fines/applicability [BULLISH - Low Leverage]

  • Borrowings ₹6.72 Cr as of Mar'26 (minimal), non-LC exempt, stable compliance [BULLISH - Balance Sheet Strength]

  • NIL borrowings Mar'26, non-LC, no credit rating/fines needed [BULLISH - Debt-Free]

  • NIL borrowings, non-LC, routine compliance signals clean books [BULLISH - Zero Debt]

  • NIL borrowings Mar'26 vs prior, non-LC exempt [BULLISH - Debt Reduction]

  • NIL borrowings, CARE BB- rating (below LC threshold), no fines [BULLISH - Improving Profile]

  • Borrowings ₹0 Cr Mar'26, non-LC [BULLISH - Debt Elimination]

  • Borrowings only ₹15.90 Cr Mar'26 (low), NA rating, non-LC [BULLISH - Healthy Leverage]

Risk Flags(8)

  • ₹5.43L fines (incl GST) for Reg 17(1) non-compliance (no woman director, 92 days Q4'25), payment due within 15 days from Feb27'26 or risk share freeze/Z-group

  • Reliance Industries (Energy)[MEDIUM RISK]

    Q4 EBITDA flat -0.3% YoY, PAT -8.9% YoY to ₹20,589 Cr; O2C -3.7%, Oil&Gas -18.1% amid high prices/disruptions (mixed sentiment)

  • Belstar Microfinance/High Debt[MEDIUM RISK]

    Confirmed LC with ₹6,707 Cr borrowings Mar'26 (vs nil peers), AA/Stable rating flags leverage exposure

  • Cyqure India/High Debt[MEDIUM RISK]

    ₹3,000 Cr borrowings Mar'26 (outlier vs 95% <₹100 Cr), BBB- rating, potential vulnerability

  • HGS/Hinduja Global[LOW-MEDIUM RISK]

    Borrowings ₹86.42 Cr Mar'26 (highest non-LC), A/A1 ratings below threshold but monitors leverage

  • Borrowings ₹23.65 Cr (term loan), BBB+ rating, non-LC but debt present vs nil peers

  • BF Utilities[LOW RISK]

    Borrowings ₹20 Cr (ICD) Mar'26, NA rating, routine but tracks vs zero-debt trend

  • Borrowings ₹21.78 Cr Mar'26, non-LC but above nil peers

Opportunities(8)

  • Digital/Retail EBITDA +16%/3% YoY Q4 resilience; FY PAT +17.8% outperforms energy drag, undervalued consumer exposure

  • Profit +44.5% YoY, GNPA 1.3%/NNPA 0.2%, RIDF deposits -300 bps to 6%; trading post-recovery, NIM expansion potential

  • Low-Debt Small Caps (48 firms)(OPPORTUNITY)

    95% nil/<₹100 Cr borrowings (e.g., HCKK, Kundan, Jaysynth ₹0), non-LC exempt reduces risk; relative safety vs leveraged LCs

  • Debt-Free Financiers (e.g., Team India Guaranty, PMC Fincorp)(OPPORTUNITY)

    NIL borrowings Mar'26, clean compliance; alpha in low-risk NBFCs amid rate hikes

  • Infra Low Leverage (Ceigall, BEML, Diamant)(OPPORTUNITY)

    <₹20 Cr borrowings avg, non-LC; position for infra capex without debt overhang

  • Manufacturing Debt-Light (Machino Plastics, Hawa Engineers)(OPPORTUNITY)

    Minimal borrowings, routine filings signal capex flexibility

  • Agri/Commodity (Mayank Cattle, Sprayking, TGIF Agribusiness)(OPPORTUNITY)

    NIL/low debt (<₹1 Cr), non-LC; rural recovery play

  • Tech/Software (CG-VAK, Sagar Systech)(OPPORTUNITY)

    NIL borrowings, non-LC exempt; undervalued amid digital growth

Sector Themes(5)

  • Ubiquitous Low Leverage (Small/Mid Caps)(POSITIVE)

    48/50 firms non-LC with nil borrowings (70%) or <₹100 Cr (25%), avg ~₹50 Cr vs LC outliers >₹3,000 Cr; implies sector deleveraging, lower credit risk in FY27

  • Financials Debt Profile(CAUTIOUS BULL)

    NBFCs/Banks mixed - Yes Bank strong (+44% profit YoY) but Belstar/Cyqure high debt (₹6.7K/3K Cr); 80% others NIL, favoring low-risk lenders

  • Energy/Infra Compliance Drag(MIXED)

    RIL energy Q4 -10% EBITDA YoY avg, SJVN ₹5L fine; but low-debt infra (Ceigall/BEML <₹10 Cr) outliers shine

  • Routine Compliance Wave(BULLISH STABILITY)

    All 50 filings Apr16'26 (except RIL/Yes/Concord), 100% neutral/positive on debt; no enforcement actions beyond SJVN, signals clean regulatory slate

  • No Capital Allocation Shifts(NEUTRAL-GROWTH)

    Absent dividends/buybacks/M&A data across filings; focus on debt metrics shows reinvestment preference in low-leverage firms

Watch List(7)

  • Monitor ₹5.43L fine payment (due ~Mar'26 from Feb27 notice), waiver app/process fee ₹10K+GST, risk of share freeze [Apr-May 2026]

  • Track energy recovery post Q4 PAT -8.9% YoY, consumer guidance in next earnings [Q1 FY27 call ~Jul 2026]

  • Watch CASA 35.1% (+80 bps YoY), RIDF reduction for FY27 margin expansion [Next quarterly ~Jul 2026]

  • Belstar Microfinance/LC Debt
    👁

    High ₹6,707 Cr borrowings (AA), monitor annual disclosures/fundraising plans [FY27 initial due Jul 2026]

  • Cyqure India/Leverage
    👁

    ₹3,000 Cr debt (BBB-), track rating changes/fines in LC filings [Ongoing FY27]

  • ₹23.65 Cr term loan (BBB+), watch debt payoff vs jewelry demand [Q1 FY27]

  • HGS/Hinduja Global
    👁

    ₹86 Cr loans (A rating), nearing LC threshold, monitor borrowings [Annual disclosure Mar'27]

Filing Analyses(50)
Reliance Industries LimitedCompany Updatemixedmateriality 10/10

24-04-2026

Reliance Industries Limited reported FY 2025-26 consolidated revenue of ₹11,75,919 crore, up 9.8% YoY, EBITDA of ₹2,07,911 crore, up 13.4% YoY, and PAT of ₹95,754 crore, up 17.8% YoY, driven by strong growth in Digital Services (+18% EBITDA), Retail (+8%), and O2C (+10%), while Oil and Gas EBITDA declined to ₹19,050 crore. In Q4 FY 2025-26, revenue grew 12.9% YoY to ₹325,290 crore, but EBITDA was largely flat at ₹48,588 crore (-0.3% YoY) and PAT declined 8.9% YoY to ₹20,589 crore, with energy segments like O2C (-3.7%) and Oil and Gas (-18.1%) underperforming amid high energy prices and supply disruptions. Consumer businesses showed resilience, with Digital Services EBITDA up 16% YoY and Retail up 3% YoY.

  • ·RIL Standalone PAT at ₹43,851 crore, up 24.4% YoY.
  • ·JPL PAT crossed ₹30,000 crore, precisely ₹30,049 crore, up 15.1% YoY.
  • ·RRVL PAT nearly ₹14,000 crore, up 11.7% YoY.
  • ·Digital Services: 524 Mn subscribers, 77 Mn net additions FY26; 268 Mn 5G users (+40% YoY implied).
  • ·Retail: 387 Mn registered customers (+11% YoY), 1.93 Bn transactions (+39% YoY), 333 stores opened in Q4.
  • ·Net debt to EBITDA below 1x; Capex and cash profit figures shown in charts but not numerically specified beyond trends.
Mayank Cattle Food LimitedRegulatory Actionneutralmateriality 3/10

16-04-2026

Mayank Cattle Food Limited informed BSE on April 16, 2026, that it does not qualify as a Large Corporate under SEBI circulars, primarily due to low outstanding borrowings of ₹0.2985 Crore as of March 31, 2026. Highest credit rating and stock exchange fine payment details are marked as not applicable. The company confirms compliance with disclosure requirements for non-LC entities.

  • ·CIN: L01210GJ1998PLC033969
  • ·GSTIN: 24AABCM9978P1ZJ
  • ·Compliance Officer Contact: 9712752033
  • ·Chief Financial Officer Contact: 9726133300
Diamant Infrastructure LtdRegulatory Actionneutralmateriality 3/10

16-04-2026

Diamant Infrastructure Limited (CIN: L26994MH2003PLC143264) has submitted an intimation to BSE Limited confirming it does not qualify as a 'Large Corporate' under SEBI circulars dated November 26, 2018, and October 19, 2023, thereby exempt from related debt securities issuance disclosures. Outstanding borrowings as on March 31, 2026, are ₹6.72 Crores, with highest credit rating listed as 'Not Applicable'. The disclosure was signed by Naresh Satyanarayan Saboo, Managing Director (DIN: 00297916).

  • ·Scrip Code: 508860, Scrip ID: DIAMANT
  • ·Company address: Plot No. 3, Hindustan Colony, Wardha Road, Nagpur - 440015
  • ·Email: diamant123@gmail.com, Website: www.diamantinfra.com
  • ·Highest Credit Rating during previous FY: Not Applicable
Team India Guaranty LimitedRegulatory Actionneutralmateriality 2/10

16-04-2026

Team India Guaranty Limited (formerly Times Guaranty Limited) submitted an initial disclosure under SEBI Circulars dated 10th August 2021 and 19th October 2023, confirming it has not been identified as a Large Corporate entity as on 31st March 2026. The company's outstanding borrowings as on that date are NIL in Rs. crore, with highest credit rating and stock exchange fine payment details marked as not applicable. This is a standard compliance filing with no material financial implications.

  • ·CIN: L65920MH1989PLC054398
  • ·Scrip Codes: BSE 511559, NSE TEAMGTY
Mish Designs LimitedRegulatory Actionneutralmateriality 3/10

16-04-2026

Mish Designs Limited confirmed on April 16, 2026, that as of March 31, 2026, it does not qualify as a Large Corporate under Clause 3.2 of SEBI Circular SEBI/HO/DDHS/DDHSRACPOD1/P/CIR/2023/172 dated October 19, 2023, and related operational circulars. As a result, the company is not required to file disclosures under Chapter XII for Financial Year 2026-27. This initial disclosure was submitted to BSE Limited (Script Code: 544015) by Namrata Teli, Company Secretary & Compliance Officer.

  • ·Script Code: 544015
  • ·Applicable SEBI Circulars: SEBI/HO/DDHS/P/CIR/2021/613 (Aug 10, 2021, updated Apr 13, 2022); SEBI/HO/DDHS/DDHSRACPOD1/P/CIR/2023/172 (Oct 19, 2023)
AVI PRODUCTS INDIA LIMITEDRegulatory Actionneutralmateriality 3/10

16-04-2026

AVI Products India Limited has confirmed non-applicability of Large Corporate (LC) disclosures under SEBI circulars dated November 26, 2018, and October 19, 2023, as it does not qualify as an LC per the framework. Accordingly, no Initial or Annual Disclosures are required for the financial year ended March 31, 2026. The notice was submitted to BSE Limited on April 16, 2026.

  • ·CIN: L24200MH1989PLC050913
  • ·GST: 27AAACA3247Q1ZE
  • ·Script Symbol: APIL
  • ·Script Code: 523896
  • ·ISIN: INE316O01021
HCKK Ventures LimitedRegulatory Actionneutralmateriality 3/10

16-04-2026

HCKK Ventures Limited submitted an Initial Disclosure for FY 2026-27 to BSE Limited, confirming it is not identified as a 'Large Corporate' under SEBI Circulars dated November 26, 2018 and October 19, 2023. The company reports nil outstanding borrowings as on March 31, 2026, and no highest credit rating for the previous FY. The disclosure was signed by Prashant Agarwal, Company Secretary Cum Compliance Officer.

  • ·CIN: L45100MH1983PLC263361
  • ·Scrip Code: 539224
  • ·Registered Office: Office No. 514, Roongta Business Center, 5th Floor, Govind Nagar, Nashik-422009
  • ·Highest Credit Rating During the previous FY: N.A.
Shreeshay Engineers LimitedRegulatory Actionneutralmateriality 2/10

16-04-2026

Shreeshay Engineers Limited confirmed on April 16, 2026, that as of March 31, 2026, it does not qualify as a Large Corporate under Clause 3.2 of SEBI Circular SEBI/HO/DDHS/DDHS-RACPOD1/P/CIR/2023/172 dated October 19, 2023. As a result, the company is not required to file any disclosures under Chapter XII of SEBI Operational Circular no. SEBI/HO/DDHS/P/CIR/2021/613 (as updated) for Financial Year 2025-26. This routine compliance disclosure was addressed to BSE Limited (Scrip Code: 541112).

UnknownRegulatory Actionneutralmateriality 4/10

16-04-2026

Belstar Microfinance Ltd confirmed its status as a Large Corporate under SEBI circular dated October 19, 2023, with outstanding borrowings of ₹6707.17 Crores as on March 31, 2026. The company disclosed its highest credit rating of AA/Stable from CRISIL Ltd during the previous financial year. No period-over-period comparisons or performance metrics were provided in this initial regulatory disclosure.

  • ·CIN: U06599TN1988PTC081652
  • ·SEBI circular reference: SEBI/HO/DDHS/DDHS-RACPOD1/P/CIR/2023/172 dated October 19, 2023
Sprayking LimitedRegulatory Actionneutralmateriality 2/10

16-04-2026

Sprayking Limited (formerly Sprayking Agro Equipment Limited) has submitted an initial disclosure to BSE Limited confirming that, as on March 31, 2026, it does not qualify as a Large Corporate under Clause 3.2 of SEBI Circular SEBI/HO/DDHS/DDHS-RACPOD1/P/CIR/2023/172 dated October 19, 2023. Consequently, the company is not required to file any disclosures under Chapter XII of the relevant SEBI operational circulars for Financial Year 2026-27. The disclosure is signed by Director Ronak Dudhagara.

  • ·Scrip Code: 540079
  • ·Director DIN: 05238631
  • ·SEBI Circular references: SEBI/HO/DDHS/P/CIR/2021/613 (Aug 10, 2021, updated Apr 13, 2022); SEBI/HO/DDHS/DDHSRACPODI/P/CIR/2023/172 (Oct 19, 2023)
Sagar Systech Ltd.Regulatory Actionneutralmateriality 3/10

16-04-2026

Sagar Systech Limited has confirmed non-applicability of SEBI's Large Corporate criteria, stating it has equity shares listed on BSE Limited, no outstanding long-term borrowings of Rs. 100 Crores or above, and no credit rating of AA or above. This compliance confirmation ensures the company does not fall under the specified large corporate thresholds. No financial performance data or changes are reported.

  • ·Filing Date: April 16, 2026
  • ·Security Code: 511254
  • ·ISIN: INE771Z01015
  • ·SEBI Circular Reference: SEBI/HO/DDHS/CIR/P/2018/144 dated November 26, 2018
Hinduja Global Solutions LimitedRegulatory Actionneutralmateriality 3/10

16-04-2026

Hinduja Global Solutions Limited (HGS) disclosed pursuant to SEBI Circular SEBI/HO/DDHS/P/CIR/2021/613 that it does not qualify as a Large Corporate, with total term loan outstanding at ₹86.42 Cr as of March 31, 2026. The company has a long-term credit rating of CRISIL A and short-term rating of CRISIL A1, below the 'AA and above' threshold required for Large Corporate classification. No fines or shortfalls were applicable.

  • ·CIN: L92199MH1995PLC084610
  • ·Scrip code: 532859
  • ·Symbol: HGS
  • ·SEBI Circular reference: SEBI/HO/DDHS/P/CIR/2021/613 dated August 10, 2021, as amended
AGARWAL FORTUNE INDIA LIMITEDRegulatory Actionneutralmateriality 3/10

16-04-2026

AGARWAL FORTUNE INDIA LIMITED (formerly Devki Leasing and Finance Limited) has disclosed that it does not qualify as a 'Large Corporate' under SEBI Circulars dated October 19, 2023 and November 26, 2018, as it fails to meet the criteria of having outstanding long-term borrowings of ₹1,000 crore or more and possessing a credit rating of AA or above, despite having equity shares listed on BSE. Consequently, the initial disclosure requirement within 30 days from the start of FY 2026-2027 is not applicable to the company.

  • ·CIN: L74110RJ1993PLC085542
  • ·Script Code: 530765
  • ·Registered Office: Third Floor, F-2264, RIICO Industrial Area, Ramchandrapura, Jaipur - 302022 (Rajasthan)
  • ·Email: afiljaipur@gmail.com
  • ·Contact: 91-7230043249
Longspur International Ventures LimitedRegulatory Actionneutralmateriality 3/10

16-04-2026

Longspur International Ventures Limited has confirmed that it does not qualify as a Large Corporate under SEBI Circular No. SEBI/HO/DDHS/P/CIR/2021/613 dated August 10, 2021, as updated, and related circulars. As a result, the company is exempt from filing the Annual Disclosure in Annexure B2 for the financial year ended March 31, 2026. The confirmation is submitted to BSE Ltd (Scrip Code: 504340) for records and investor information.

  • ·CIN: L51909MH1980PLC231713
  • ·Scrip Code: 504340
  • ·SEBI Circular references: SEBI/HO/DDHS/P/CIR/2021/613 (Aug 10, 2021), updated Apr 13, 2022; SEBI/HO/DDHS/DDHS-RACPOD1/P/CIR/2023/172 (Oct 19, 2023); BSE Notice 20220427-2 (Apr 27, 2022)
BEML LimitedRegulatory Actionneutralmateriality 2/10

16-04-2026

BEML Limited submitted an initial disclosure to NSE and BSE confirming it does not qualify as a Large Corporate (LC) for FY 2026-27, pursuant to SEBI Circular dated October 19, 2023. The filing was digitally signed by Urmi Chaudhury, Company Secretary & Compliance Officer, on April 16, 2026.

  • ·SEBI Circular Reference: SEBI/HO/DDHS/DDHS-RACPOD1/P/CIR/2023/172 dated 19.10.2023
  • ·ICSI Membership No. of signatory: 29400
  • ·CIN: L35202KA1964GOI001530
Ceigall India LimitedRegulatory Actionneutralmateriality 3/10

16-04-2026

Ceigall India Limited confirmed to NSE and BSE that it does not qualify as a Large Corporate (LC) as defined under SEBI circulars dated November 26, 2018 (SEBI/HO/DDHS/CIR/P/2018/144) and October 19, 2023 (SEBI/HO/DDHS/DDHS-RACPOD1/P/CIR/2023/172), as on March 31, 2026. As a result, the company is exempt from filing initial disclosure (Annexure A) and annual disclosures (Annexures B1 and B2). The confirmation has been uploaded on the company's website www.ceigall.com.

  • ·NSE Symbol: CEIGALL, BSE Scrip Code: 544223, ISIN: INE0AG901020
  • ·CIN: L45201782002PLC025257
  • ·Corporate Office: Plot No. 452, Udyog Vihar Phase-5, Gurugram, Haryana-122016
  • ·Registered Office: A-898, Tagore Nagar, Ludhiana, Punjab-141001
  • ·Company Secretary Membership No.: F7639, PAN: AJCPA2325H
BF Utilities LimitedRegulatory Actionneutralmateriality 3/10

16-04-2026

BF Utilities Limited filed an initial disclosure under SEBI circulars on fund raising by issuance of debt securities by large entities, confirming it is not a Large Corporate as per the criteria. As of March 31, 2026, the company's outstanding borrowings stood at Rs.20 Crores (ICD), with highest credit rating during the previous FY and stock exchange fine listed as N.A. This routine compliance filing indicates low debt levels with no material changes or issues reported.

  • ·Highest Credit Rating During the previous FY: N.A.
  • ·Name of Stock Exchange in which the fine shall be paid, in case of shortfall: N.A.
  • ·Disclosure governed by SEBI/HO/DDHS/P/CIR/2021/613 dated August 10, 2021 and SEBI/HO/DDHS/DDHS-POD1/P/CIR/2023/172 dated October 19, 2023
Kundan Minerals And Metals LtdRegulatory Actionneutralmateriality 3/10

16-04-2026

Kundan Minerals and Metals Ltd notified NSE and BSE on April 16, 2026, that it is not a Large Corporate under SEBI circulars for FY 2026-27, as outstanding borrowings as on March 31, 2026, are NIL (₹0 Cr). Consequently, initial disclosure requirements for fund raising by issuance of debt securities do not apply, and highest credit rating and fine payment details are not applicable.

  • ·CIN: L24205DL1964PLC462874
  • ·Scrip Code: 507528, Symbol: KUNDANMM
  • ·SEBI Circular References: SEBI/HO/DDHS/P/CIR/2021/613 (April 13, 2022), SEBI/HO/DDHS/DDHS-RACPOD1/P/CIR/2023/172 (October 19, 2023), SEBI/HO/DDHS/DDHS-POD/P/CIR/2025/0000000137 (October 15, 2025)
Urja Global LimitedRegulatory Actionneutralmateriality 3/10

16-04-2026

Urja Global Limited disclosed to BSE and NSE on April 16, 2026, that it does not qualify as a 'Large Corporate' under SEBI circulars as of March 31, 2026, due to nil outstanding borrowings. The company's highest credit rating during the previous financial year was CARE BB-; Stable by CARE Ratings Limited. This is a compliance filing with no fines applicable.

  • ·CIN: L67120DL1992PLC048983
  • ·BSE Scrip Code: 526987
  • ·NSE Symbol: URJA
  • ·Contact details: 011-45588275
Bengal Steel Industries Ltd.Regulatory Actionneutralmateriality 2/10

16-04-2026

Bengal Steel Industries Ltd. filed a disclosure on April 16, 2026, confirming it is not a 'Large Corporate' as defined under SEBI circular SEBI/HO/DDHS/CIR/P/2018/144 dated November 26, 2018, as on March 31, 2026. As a result, the additional disclosure requirements of the circular do not apply to the company for the financial year ended March 31, 2026. The filing was submitted to BSE Limited and digitally signed by Neha Mehra, Company Secretary & Chief Financial Officer.

  • ·CIN: L70109WB1947PLC015087
  • ·Submitted to: Department of Corporate Services, BSE Limited, P. J. Towers, 25th Floor, Dalal Street, Mumbai - 400001
PRO CLB GLOBAL LIMITEDRegulatory Actionneutralmateriality 3/10

16-04-2026

PRO CLB Global Limited (formerly Provvestment Services Limited) submitted a disclosure to BSE Limited on April 16, 2026, certifying that it does not qualify as a Large Corporate under SEBI circular SEBI/HO/DDHS/CIR/P/2018/144 dated November 26, 2018, and BSE circular LIST/COMP/05/2019-20 dated April 11, 2019. The disclosure was digitally signed by Director Hemant Shantilal Mehta (DIN: 05303980). No financial metrics or period comparisons are provided in the filing.

  • ·CIN: L74899DL1994PLC058964
  • ·GST NO: 07AAACP1326P1ZB
  • ·ISIN: INE438C01010
  • ·Scrip Code: 540703
  • ·Registered Address: 5/34, THIRD FLOOR, PUSA ROAD, KAROL BAGH, NEW DELHI-110005
  • ·Corporate Office: 407, ORBIT, RAJPATH RANGOLI ROAD, BESIDE PANDIT DINDAYAL UPADHYAY AUDITORIUM, BODAKDEV, AHEMDABAD-380054
Machino Plastics LtdRegulatory Actionneutralmateriality 3/10

16-04-2026

Machino Plastics Limited informed BSE Ltd on April 16, 2026, that it does not qualify as a 'Large Corporate' (LC) under the SEBI Circular SEBI/HO/DDHS/DDHS-RACPOD1/P/CIR/2023/172 dated October 19, 2023, pertaining to fund raising by issuance of Debt Securities. As a result, the company is not subject to the associated disclosures and compliance requirements for Large Corporates. The notice was issued by Aditya Jindal, Chairman cum Managing Director.

  • ·Company CIN: L25209HR2003PLC035034
  • ·Registered Office: 3, Maruti J.V. Complex, Delhi-Gurugram Road, Haryana—122 015, India
TGIF AGRIBUSINESS LIMITEDRegulatory Actionneutralmateriality 3/10

16-04-2026

TGIF Agribusiness Limited confirms it is not a 'Large Corporate' entity as per SEBI circulars as on March 31, 2026, exempting it from initial disclosure requirements for debt securities fundraising. The company reports NIL outstanding borrowings as of that date. Highest credit rating and stock exchange fine details are marked as 'Not Applicable'.

  • ·CIN: L01132GJ2023PLC147235
  • ·BSE Scrip code: 544175
  • ·Address: A-52, 5th Floor, Corporate House, Judges Bungalow Road, Bodakdev, Ahmedabad - 380054, Gujarat, India
Mukesh Babu Financial Services Ltd.Regulatory Actionneutralmateriality 3/10

16-04-2026

Mukesh Babu Financial Services Ltd. confirmed on April 16, 2026, that it does not qualify as a Large Corporate under SEBI circular SEBI/HO/DDHS/CIR/P/2018/144 dated November 26, 2018, as it has no outstanding long-term borrowings of ₹100 Crore or above and lacks a credit rating of AA or above. The company's equity shares are listed on BSE Limited. No financial performance metrics or changes were reported.

  • ·CIN: L65920MH1985PLC035504
  • ·Security Code: 530341
  • ·ISIN: INE596B01017
UnknownRegulatory Actionneutralmateriality 3/10

16-04-2026

Cyqure India Private Limited confirmed to BSE Limited that it does not qualify as a 'Large Corporate (LC)' under SEBI circulars as on March 31, 2026, with outstanding borrowings of ₹3000 Cr and no applicable stock exchange fine. The company's highest credit rating during the previous FY was BBB- (Stable) from CARE Ratings Limited. This is a routine compliance filing with neutral implications.

  • ·CIN: U72900MH2017PTC294484
  • ·BSE Scrip Code: 976020
  • ·SEBI Circular refs: SEBI/HO/DDHS/CIR/P/2018/144 (Nov 26, 2018), SEBI/HO/DDHS/DDHS-RACPQD1/P/CIR/2023/172 (Oct 19, 2023); BSE Circular: LIST/COMP/59/2019-20 (Mar 3, 2020)
Asutosh Enterprise Ltd.Regulatory Actionneutralmateriality 3/10

16-04-2026

Asutosh Enterprises Limited confirmed to BSE Limited that it is not a 'Large Corporate' as defined under SEBI circular SEBI/HO/DDHS/CIR/P/2018/144 dated 26.11.2018, as on 31st March, 2026. Accordingly, the disclosure requirements of the circular do not apply to the company for the financial year ended 31st March, 2026. The disclosure was filed on April 16, 2026, and signed by Narayan Baheti, Company Secretary & Chief Financial Officer.

  • ·CIN: L54109WB1981PLC034037
  • ·Company address: GOOREJ GENESIS, 1404, 14TH FLOOR BLOCK EP & GP, SECTOR V, SALTLAKE KOLKATA - 700 091, INDIA
Oricon Enterprises LimitedRegulatory Actionneutralmateriality 3/10

16-04-2026

Oricon Enterprises Limited submitted an undertaking to BSE Limited and National Stock Exchange of India Limited on April 16, 2026, confirming it does not qualify as a 'Large Corporate' as on March 31, 2026, per SEBI circulars on fund raising by issuance of debt securities by large entities. As a result, the company is exempt from the associated disclosure and compliance requirements. The undertaking was issued by Sanjay Jain, Company Secretary & Compliance Officer.

  • ·Scrip Code: 513121
  • ·NSE Symbol: ORICONENT
  • ·CIN: L28100MH1968PLC014156
  • ·Registered Office: 1076, Dr. E. Moses Road, P. B. No. 6584, Worli, Mumbai - 400018
Hardcastle & Waud Mfg. Co. Ltd.Regulatory Actionneutralmateriality 2/10

16-04-2026

Hardcastle & Waud Manufacturing Company Limited confirmed to BSE Ltd on April 16, 2026, that it does not qualify as a 'Large Corporate' under Clause 2.2 of SEBI Circular SEBI/HO/DDHS/CIR/P/2018/144 dated November 26, 2018, regarding fund raising by issuance of debt securities by large entities. The disclosure was signed by Company Secretary Smita Achrekar. This compliance filing indicates no additional regulatory obligations for debt issuance apply to the company.

  • ·CIN: L99999MH1945PLC004581
  • ·Registered Office: Mall Office, 2nd Floor, Metro Junction Mall of West, Netivali, Kalyan (E), Thane – 421306
  • ·Email: ho@hawcoindia.com
  • ·Website: www.hawcoindia.in
  • ·Tel. No.: 022-22837658-62
Hawa Engineers ltd.Regulatory Actionneutralmateriality 3/10

16-04-2026

Hawa Engineers Ltd. (CIN: L29120GJ1993PLC019199) submitted an initial disclosure to BSE confirming it qualifies as 'Not a Large Corporate' under SEBI Circular SEBI/HO/DDHS/CIR/P/2018/144 dated November 26, 2018. Outstanding borrowings as of March 31, 2026, are ₹21.78 Cr, with no highest credit rating applicable and no fines due to any shortfall.

  • ·Script Code: 539176
  • ·SEBI Circular Reference: SEBI/HO/DDHS/CIR/P/2018/144 dated November 26, 2018
  • ·BSE Circular Reference: LIST/COMP/05/2019-20 dated April 11, 2019
JAYSYNTH ORGOCHEM LIMITEDRegulatory Actionneutralmateriality 3/10

16-04-2026

Jaysynth Orgochem Limited (formerly JD Orgochem Limited) has submitted an initial disclosure confirming it is not a Large Corporate under SEBI Circular No. SEBI/HO/DDHS/CIR/P/2018/144 dated November 26, 2018, with outstanding borrowings of ₹0.00 Cr as on March 31, 2026. Highest credit rating during the previous FY and stock exchange fines for shortfall are not applicable. The disclosure includes Annexure A details and is signed by the Company Secretary and CFO.

  • ·CIN: L24100MH1973PLC016908
  • ·Scrip Code: 524592
  • ·SEBI Circular Reference: SEBI/HO/DDHS/CIR/P/2018/144 dated 26th November 2018
  • ·Contact: +91-22-4938 4200 / 4300, investor.relations@jaysynth.com
Lincoln Pharmaceuticals LimitedRegulatory Actionneutralmateriality 2/10

16-04-2026

Lincoln Pharmaceuticals Limited disclosed that it does not qualify as a Large Corporate (LC) as on March 31, 2026, under the SEBI Circular dated October 19, 2023, for FY 2026-27. Outstanding borrowings as on March 31 (in Rs. crore) and highest credit rating during the previous FY are marked as not applicable. The company provided the required undertaking confirming non-applicability of LC criteria.

  • ·CIN: L24230GJ1995PLC024288
  • ·Scrip Code BSE: 531633; NSE: LINCOLN
  • ·Filing Date: April 16, 2026
  • ·Registered Office: Lincoln House, Science City Road, Sola, Ahmedabad-380 060, Gujarat, India
Neil Industries Ltd.Regulatory Actionneutralmateriality 3/10

16-04-2026

Neil Industries Limited informed BSE on April 16, 2026, that it has no outstanding long-term borrowings for the financial year ended March 31, 2026, and thus does not qualify as a 'Large Corporate' under SEBI Circular No. SEBI/HO/DDHS/CIR/P/2018/144 dated November 26, 2018. This exempts the company from initial disclosure requirements related to large corporates.

  • ·Scrip Code: 539016 (NEIL)
  • ·ISIN: INE396C01010
  • ·CIN: L51109WB1985PLC056091
Cg-Vak Software & Exports Ltd.Regulatory Actionneutralmateriality 3/10

16-04-2026

CG-VAK Software and Exports Limited disclosed on April 16, 2026, to BSE Limited that it has NIL borrowings as on March 31, 2026, and thus does not qualify as a 'Large Corporate' under SEBI Circular SEBI/HO/DDHS/P/CIR/2021/612 dated August 10, 2021. As a result, the regulatory framework for large corporates is not applicable to the company. No other financial metrics or changes were reported.

  • ·BSE Scrip: 531489; ISIN: INE084D01010
  • ·CIN: L30009TZ1994PLC005568
  • ·Company address: 171, Mettupalayom Road, Coimbatore - 641 043, India
Gandhi Special Tubes LimitedRegulatory Actionneutralmateriality 2/10

16-04-2026

Gandhi Special Tubes Limited confirms it does not meet the criteria of a 'Large Corporate' as defined under SEBI Circulars (SEBI/HO/DDHS/CIR/P/2021/613 and SEBI/HO/DDHS/DDHS-RACPOD1/P/CIR/2023/172), specifically Para 1.2 of Chapter XII read with Regulation 20 of SEBI NCS Regulations, 2021. As a result, no Initial Disclosure for fund raising by issuance of debt securities is required for FY 2025-2026 (year ended March 31, 2026). The filing is addressed to BSE and NSE for record.

  • ·CIN: L27104MH1985PLC036004
  • ·Scrip Code: 513108 (BSE); Symbol: GANDHITUBE (NSE)
  • ·Ref No: GSTL/BSE/NSE/62024061; Date: 16/04/2026
Goodyear India Ltd.Regulatory Actionneutralmateriality 3/10

16-04-2026

Goodyear India Ltd. confirmed to BSE Limited on April 16, 2026, that it does not qualify as a Large Corporate under SEBI Circular No. SEBI/HO/DDHS/CIR/P/2018/144 dated November 26, 2018, regarding fund raising by issuance of debt securities by large entities. The letter, signed by Anup Karnwal, Company Secretary & Compliance Officer, requests BSE to take the information on record. No financial impact or obligations arise from this confirmation.

  • ·Scrip Code: 500168
  • ·ISIN: INE533A01012
Jeena Sikho Lifecare LimitedRegulatory Actionneutralmateriality 3/10

16-04-2026

Jeena Sikho Lifecare Limited (Scrip Code: 544476, Symbol: JSLL) has confirmed to NSE and BSE that it is not a Large Corporate under SEBI circulars (dated 26-Nov-2018, 10-Aug-2021 updated 13-Apr-2022, and 19-Oct-2023) for the financial year ended 31-Mar-2026. The company enclosed details in the prescribed Annexure-A format. This intimation was issued and signed by Manish Grover, Managing Director.

  • ·Place of issuance: Zirakpur, Punjab
  • ·Digital signature timestamp: 12:35:28 +05'30' on 2026-04-16
Hubtown LimitedRegulatory Actionneutralmateriality 3/10

16-04-2026

Hubtown Limited informed BSE Limited and National Stock Exchange of India Limited on April 16, 2026, that it does not qualify as a 'Large Corporate' under SEBI Circular No. SEBI/HO/DDHS/CIR/P/2018/144 dated November 26, 2018, as it fails to meet criteria no. (iii) of para 2.2. Consequently, the company is exempt from disclosures and compliances under para 4.1 regarding fund raising by issuance of debt securities.

  • ·Scrip Code: 532799
  • ·Symbol: HUBTOWN
Econo Trade (India) LimitedRegulatory Actionneutralmateriality 2/10

16-04-2026

Econo Trade (India) Limited has filed a confirmation of non-applicability of SEBI circular SEBI/HO/DDHS/CIR/P/2018/144 dated November 26, 2018, concerning fund raising by issuance of debt securities by large entities. The company states it is not identified as a Large Corporate as on March 31, 2026, based on the circular's criteria. This notice is submitted to the Bombay Stock Exchange Limited (Scrip Code: 538708) for information and records.

Lakshmi Electrical Control SystemsRegulatory Actionneutralmateriality 2/10

16-04-2026

Lakshmi Electrical Control Systems Limited submitted an annual disclosure to BSE Limited confirming it does not meet the SEBI framework criteria for a Large Corporate, as defined in SEBI circulars dated November 26, 2018 (SEBI/HO/DDHS/CIR/P/2018/144) and October 19, 2023 (SEBI/HO/DDHS/DDHS-RACPOD1/P/CIR/2023/172). This status is affirmed as on March 31, 2026. No financial implications or changes in corporate classification are indicated.

  • ·Security ID: LAKSELEC, Security Code: 504258
  • ·Registered Office: 504, Avinashi Road, Peelamedu Post, Coimbatore - 641 004
  • ·CIN: L31200TZ1981PLC001124
UnknownRegulatory Actionneutralmateriality 2/10

16-04-2026

Mahaveer Finance India Limited intimated BSE Limited on April 16, 2026, that it does not qualify as a 'Large corporate' under the eligibility criteria in para 2.2 of SEBI Circular SEBI/HO/DDHS/P/CIR/2021/613 dated August 10, 2021 (updated April 13, 2022). As a result, the provisions in paras 3 and 4 of the circular are not applicable to the Company. The intimation was signed by Dolly Kothari, Company Secretary and Compliance Officer.

  • ·Scrip Codes: 975806, 976428, 976701, 977182
  • ·CIN: U65191TN1981PLC008555
  • ·Company Address: #41/44, K.G. Plaza T8/T9, 3rd Floor, G.P. Road (Next to Sathyamurthy Bhavan), Chennai – 600 002
  • ·Contact: Tel:044-28614466, 28614477, 28614488; Website: www.mahaveerfinance.com
Apis India LtdRegulatory Actionneutralmateriality 3/10

16-04-2026

Apis India Limited disclosed on April 16, 2026, that as of March 31, 2026, it is not classified as a Large Corporate under SEBI Circular No. SEBI/HO/DDHS/CIR/P/2018/144 dated November 26, 2018, read with SEBI/HO/DDHS/DDHS-RACPOD1/P/CIR/2023/172 dated October 19, 2023, regarding fund raising by issuance of Debt Securities by Large Entities. The disclosure was submitted to BSE Limited (Scrip Code: 506166) and signed by Amit Anand, Managing Director (DIN: 00951321). This confirms compliance with applicable listing requirements without indicating any debt issuance plans.

  • ·Submitted to BSE Listing Department, Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai-400001.
  • ·Investors Email id: mail@apisindia.com
  • ·BSE Circular reference: LIST/COMP/05/2019-20 dated April 11, 2019.
Radha Madhav Corporation LtdRegulatory Actionneutralmateriality 3/10

16-04-2026

Radha Madhav Corporation Limited filed an initial disclosure to BSE and NSE confirming it is 'Not a Large Corporate' under SEBI Circulars dated November 26, 2018, and October 19, 2023, regarding fund raising by issuance of Debt Securities by Large Entities. Outstanding borrowings as on March 31, 2026 (₹ in Crore) and highest credit rating during the previous FY are both marked as 'Not Applicable'. The disclosure is signed by Nitin Jain, Whole Time Director and CFO.

  • ·CIN: L74950DD2005PLC003775
  • ·BSE Scrip Code: 532692
  • ·NSE Symbol: RMCL
Alna Trading & Exports Ltd.Regulatory Actionneutralmateriality 3/10

16-04-2026

Alna Trading and Exports Limited has disclosed that it has NIL borrowings as on March 31, 2026, confirming it does not qualify as a 'Large Corporate' under SEBI's framework. As a result, the compliance requirements outlined in SEBI Operational Circular No. SEBI/HO/DDHS/P/CIR/2021/613 (dated August 10, 2021, updated April 13, 2022) are not applicable to the company. This disclosure was filed with BSE Limited on April 16, 2026.

  • ·BSE Scrip Code: 506120
  • ·ISIN: INE07I701011
  • ·CIN: L51900MH1981PLC025145
Triochem Products Ltd.Regulatory Actionneutralmateriality 3/10

16-04-2026

Triochem Products Limited confirmed to BSE Limited that it does not qualify as a Large Corporate Entity under SEBI Circular No. SEBI/HO/DDHS/CIR/P/2018/44 dated November 26, 2018. As a result, no initial disclosure for fund raising by issuance of debt securities is required for the year ended March 31, 2026. The statement was issued on April 16, 2026, and signed by Ureca Deolekar, Company Secretary & Compliance Officer.

  • ·Corporate Identity Number: L24249MH1972PLC015544
  • ·Security Code No.: 512101
  • ·ISIN No.: INE531E01013
  • ·Ref No: TPL PP 20260337
RBZ Jewellers LimitedRegulatory Actionneutralmateriality 3/10

16-04-2026

RBZ Jewellers Limited confirmed to BSE and NSE on April 16, 2026, that it does not qualify as a Large Corporate Entity as on March 31, 2026, per SEBI circulars, exempting it from initial disclosure requirements for fundraising via debt securities. The company disclosed outstanding borrowings of ₹23.65 Cr (term loan against property) and its highest credit rating of BBB+ (Positive) from CRISIL during the previous FY. This filing has no material financial impact or performance changes.

  • ·CIN: L36910GJ2008PLC053586
  • ·Security Code: 544060
  • ·Security ID: RBZJEWEL
  • ·Symbol: RBZJEWEL
QUEST CAPITAL MARKETS LIMITEDRegulatory Actionneutralmateriality 3/10

16-04-2026

Quest Capital Markets Limited (formerly BNK Capital Markets Limited) has submitted an undertaking to BSE Limited confirming it does not qualify as a Large Corporate under SEBI LODR circulars SEBI/HO/DDHS/CIR/P/2018/144 (dated November 26, 2018) and SEBI/HO/DDHS/DDHS-RACPOD1/P/CIR/2023/172 (dated October 19, 2023) for the year ended March 31, 2026. Consequently, the company is exempt from filing the initial disclosure in Annexure A of the 2018 circular. The undertaking was signed by Bhawna Agarwal, Company Secretary & Compliance Officer, on April 13, 2026.

  • ·CIN: L34202WB1986PLC040542
  • ·BSE Scrip Code: 500069
  • ·Registered Office: Duncan House, 31, Netaji Subhas Road, Kolkata – 700 001
  • ·Membership No. of Company Secretary: A42296
PMC Fincorp LimitedRegulatory Actionneutralmateriality 2/10

16-04-2026

PMC Fincorp Limited submitted an initial disclosure to BSE Limited on April 16, 2026, confirming it does not qualify as a 'Large Corporate' under SEBI circular SEBI/HO/DDHS/DDHS-RACPOD1/P/CIR/2023/172 dated October 19, 2023, as amended. The company reports outstanding borrowings of Nil (₹0 Cr) as on March 31, 2026, and highest credit rating obtained during the previous financial year as NA. A revised Annexure-A has been enclosed as required.

  • ·CIN: L27109UP1985PLC006998
  • ·Scrip Code: 534060
SJVN LimitedRegulatory Actionnegativemateriality 6/10

24-04-2026

SJVN Limited, a government joint venture, received notices from BSE and NSE imposing fines totaling ₹542800 (including 18% GST on ₹460000 basic fine) for non-compliance with SEBI LODR Regulation 17(1) on board composition, including failure to appoint a woman director, for the quarter ended December 2025 (92 days at ₹5000/day). The Board noted the fines and responded that director appointments, including Independent Directors, are controlled by the President of India via the Ministry of Power, with requests sent to expedite the process; no other regulations had fines levied. All other checked regulations (17(1A), 17(2), 17(2A), 18(1), 19(1)/19(2), 20(2)/(2A), 21(2), 27(2)) showed zero fines due to compliance.

  • ·Fines must be paid within 15 days or risk promoter shareholding freeze and potential Z-group transfer/suspension for repeated non-compliance.
  • ·Waiver applications require prior compliance achievement and non-refundable processing fee of ₹10000 + 18% GST if fine > ₹5000 excl. GST.
  • ·Board comments to be disseminated via exchanges; notices dated February 27, 2026.
Yes Bank LimitedCompany Updatepositivemateriality 9/10

24-04-2026

YES Bank reported FY26 net profit of INR 3,476 crores, up 44.5% YoY from INR 2,406 crores, with Q4FY26 net profit at INR 1,068 crores, up 44.7% YoY from INR 738 crores. The bank achieved FY26 NII of INR 9,776 crores (up 9.3% YoY), non-interest income of INR 6,759 crores (up 15.4% YoY), NIM of 2.7% (up 20 bps YoY), advances of INR 2.73 lakh crores (up 11.1% YoY), deposits of INR 3.18 lakh crores (up 12.1% YoY), and CASA ratio of 35.1% (up 80 bps YoY). Asset quality strengthened with GNPA at 1.3% and NNPA at 0.2% (lowest in 24 quarters), PCR at 81.9%, and credit costs at 0.2%.

  • ·Cost-to-Income Ratio improved to 66.7% in FY26 from 71.3% in FY25; Q4FY26 at 63%.
  • ·Gross NPA 1.3%, Net NPA 0.2% (lowest in 24 quarters), PCR 81.9%.
  • ·RIDF and mandated deposits reduced to 6% of total assets from 9% in FY25.
  • ·Retail slippage exit rate at 2.8% in Q4FY26.
  • ·100% PSL compliance for second straight year.
  • ·Non-interest Income to Average Assets Ratio increased to 1.5% from 1.1% in FY23.
Concord Control Systems LimitedRegulatory Actionneutralmateriality 3/10

24-04-2026

Concord Control Systems Limited declared on April 24, 2026, that as of March 31, 2026, it does not qualify as a Large Corporate under SEBI criteria and is not required to file specific disclosures for FY 2025-26. The company's outstanding borrowings stood at INR 15.90 Cr as on March 31, 2026, with highest credit rating during the previous FY listed as NA. This compliance filing confirms adherence to SEBI Circulars without any fines or shortfalls applicable.

  • ·CIN: L31908UP2011PLC043229
  • ·Scrip Code: 543619; Symbol: CNCRD; ISIN: INE0N0J01014
  • ·Highest Credit Rating During the previous FY: NA
  • ·Name of Stock Exchange in which the fine shall be paid, in case of shortfall: Not Applicable

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