India SEBI Regulatory Enforcement Actions — May 30, 2026

30-05-2026

Mahindra & Mahindra Limited and Manulife Holdings (Bermuda) Limited have incorporated their 50:50 life insurance joint venture, Mahindra Manulife Insurance Limited (MMIL), following approval from the Ministry of Corporate Affairs on May 29, 2026. The JV has an authorized and paid-up capital of Rs. 1 crore, with each partner subscribing to 5,00,000 equity shares of Rs. 10 each, aggregating to Rs. 50 Lakh. MMIL aims to address India's protection gap with a focus on rural, semi-urban, and urban markets, leveraging Mahindra's distribution reach and Manulife's product innovation and underwriting expertise.

• · The joint venture was initially announced on November 12, 2025, and further intimated on April 24, 2026.
• · Certificate of Incorporation was received from the Ministry of Corporate Affairs on May 29, 2026 at 5:10 p.m.
• · No objection certificate from IRDAI for incorporation has already been received.
• · MMIL will be an AI-native and digitally led life insurer with a focus on policyholder protection and holistic financial solutions.
• · Mahindra Group has 324,000 employees in over 100 countries and is the world's largest tractor company by volume.
• · Manulife had over 37,000 employees, over 109,000 agents, and served over 36 million customers globally as of end of 2024.

30-05-2026

Gandhar Oil Refinery (India) Limited received a favorable order from the Office of the Commissioner of Customs (Imports – II), Mumbai, sanctioning a refund claim of ₹17,69,43,960 for the period 2017-18 under Section 27 of the Customs Act, 1962. The order, dated May 25, 2026, was received by the company on May 29, 2026, and is expected to augment the company's working capital.

• · The order was issued by Deputy Commissioner of Customs CRARS, O/o the Pr.CC (Import-II), NCH, Zone -1 Mumbai under order no. 48/MT/DC/CRARS/2026-27.
• · The refund claim was filed under Section 27 of the Customs Act, 1962.
• · The company disclosed this under Regulation 30 of SEBI (LODR) Regulations, 2015, read with SEBI Master Circular dated January 30, 2026.

30-05-2026

Genesys International Corporation Limited received fines of ₹4,18,900 each from BSE and NSE (inclusive of GST) for non-compliance with Regulation 17(1) of the Listing Regulations regarding Board composition. The Board reviewed the notice and explained that the delay in appointing an additional independent director is due to the need for a candidate with GIS/IT expertise, and currently the Board has 6 members including 3 independent directors (half the board).

• · Fines were imposed for non-compliance under Regulation 17(1) of the Listing Regulations.
• · The Board meeting to discuss the notice was held on May 29, 2026.
• · The company is seeking an independent director with expertise in IT and GIS sectors.
• · Current Board composition: 6 members, 3 independent directors (including one woman), meeting the requirement of half the board being independent.

30-05-2026

DCM Shriram Fine Chemicals Ltd has published a newspaper notice pre-intimating its 5th Annual General Meeting (AGM) to be held on July 14, 2026 at 11:30 AM via video conferencing. The notice, published in Financial Express (English) and Jansatta (Hindi) on May 30, 2026, requests shareholders to register/update their email addresses and mobile numbers to receive the Annual Report, AGM notice, and e-voting instructions. This is a routine procedural filing with no financial or operational impact.

• · AGM will be held on Tuesday, July 14, 2026 at 11:30 AM via Video Conferencing/Other Audio Visual Means.
• · Notice of AGM and Annual Report for FY 2025-26 will be sent to members with registered email addresses.
• · Documents will be available on company website (https://dsfcl.com/), BSE, NSE, and KFin Technologies websites.
• · E-voting facility will be provided; remote e-voting and Insta Poll during the AGM are available.
• · Shareholders can register/update email addresses via their Depository Participant or by emailing compliance@dsfcl.com with required documents.
• · Company's Registrar and Transfer Agent is KFin Technologies Ltd (Toll Free: 1800 309 4001).

30-05-2026

Ashoka Refineries Ltd has published its audited financial results for the quarter and year ended March 31, 2026, in newspapers as required under SEBI LODR regulations. The filing is a regulatory compliance submission to the stock exchange, confirming the results are available in print and on the company's website. No specific financial figures or performance metrics are disclosed in this filing.

• · Newspaper advertisements published in 'The Free Press Journal' (English) and 'Lok Maya' Raipur Edition (Hindi) on May 30, 2026.
• · Advertisements are also available on the company's website at https://www.ashokarefineries.com/.
• · Filing made under Regulation 47 of SEBI (LODR) Regulations, 2015.

30-05-2026

Vivo Bio Tech Ltd reported a net loss of ₹543.69 Lakhs for Q4 FY26 (standalone) and ₹516.27 Lakhs (consolidated), compared to a profit of ₹125.83 Lakhs and ₹124.81 Lakhs respectively in the previous quarter, driven by a large deferred tax expense of ₹696.95 Lakhs. For the full year FY26, standalone net profit fell sharply to a loss of ₹193.61 Lakhs from a profit of ₹757.07 Lakhs in FY25, while consolidated net profit also turned to a loss of ₹170.88 Lakhs from ₹728.26 Lakhs. The Board approved the re-appointment of Mr. Kalyan Ram Mangipudi as Whole-time Director for five years and authorized a consultant to advise on a proposed Scheme of Arrangement/Amalgamation.

• · Standalone revenue for Q4 FY26 was ₹1,376.72 Lakhs, up from ₹1,336.60 Lakhs in Q3 FY26 (3.0% QoQ increase).
• · Consolidated revenue for Q4 FY26 was ₹1,420.11 Lakhs, up from ₹1,351.30 Lakhs in Q3 FY26 (5.1% QoQ increase).
• · Standalone total income for FY26 was ₹5,300.93 Lakhs, compared to ₹5,147.74 Lakhs in FY25 (3.0% increase).
• · Standalone employee benefit expense rose to ₹1,595.17 Lakhs in FY26 from ₹1,185.97 Lakhs in FY25 (34.5% increase).
• · Standalone finance cost decreased to ₹584.88 Lakhs in FY26 from ₹750.44 Lakhs in FY25 (22.1% decrease).
• · Standalone depreciation and amortisation increased to ₹1,062.67 Lakhs in FY26 from ₹901.67 Lakhs in FY25 (17.9% increase).
• · Standalone cash flow from operations was ₹3,610.65 Lakhs in FY26, up from ₹1,182.99 Lakhs in FY25.
• · Standalone investing activities used ₹5,934.75 Lakhs in FY26, compared to ₹1,584.18 Lakhs in FY25, driven by ₹3,743.75 Lakhs in fixed asset purchases and ₹2,191.00 Lakhs in investments.
• · Standalone net cash from financing activities was ₹2,333.52 Lakhs in FY26, up from ₹390.48 Lakhs in FY25, including ₹1,696.21 Lakhs from equity shares and ₹1,043.59 Lakhs from long-term borrowings.
• · The Board approved a material related party transaction, subject to shareholder approval via postal ballot.
• · The Board appointed a consultant/advisor to assist with a proposed Scheme of Arrangement/Amalgamation.

30-05-2026

Infosys released its revised Integrated Annual Report for FY2025-26, correcting an omission in the AGM notice. The report highlights AI-driven transformations across key clients, including Liberty Global (50% fewer outages YoY), Hertz (60% faster modernization), and Microsoft (40% faster root cause analysis). However, the filing is primarily a procedural correction and does not disclose Infosys's own financial performance or any negative metrics.

• · The revised annual report corrects an omission in the explanatory statement for Item No. 6 of the 45th AGM Notice.
• · Infosys is collaborating with 90% of its top 200 clients on AI journeys.
• · Liberty Global partnership spans over two decades, including over a decade as a formal strategic partnership.
• · Hertz modernization will reduce hosting costs and provide a scalable foundation for continued automation.
• · Mondelēz traceability platform rollout in North America is complete; Europe rollout planned for H2 2026.
• · Microsoft's critical incident response times improved by 33% (from 15 to under 10 minutes).
• · ABN AMRO serves around 5 million retail customers and 365,000 business clients.