India SEBI Regulatory Enforcement Actions — June 01, 2026

01-06-2026

Wipro Limited announced that its step-down subsidiary, Wipro IT Services, LLC, will acquire an additional 20% stake in Aggne Global Inc. for a cash consideration of USD 28.5 million, increasing its shareholding to 80%. The transaction is expected to be completed by June 5, 2026, and aims to strengthen Wipro’s competitive advantage in the Property & Casualty insurance sector through AI and IP-led transformations. Aggne Group has shown consistent revenue growth over the last three fiscal years, from USD 18.9 Mn in FY24 to USD 27.5 Mn in FY26.

• · The initial 60% stake acquisition in Aggne Global IT Services Private Limited and Aggne Global Inc. was completed on February 14, 2024.
• · No government or regulatory approval is required for this additional stake purchase.
• · Aggne Group is an Insurtech company focused on AI and IP-driven services for the Property & Casualty insurance industry.
• · A separate disclosure will be made for any further stake acquisition beyond 80%.

01-06-2026

Mangalore Refinery and Petrochemicals Limited (MRPL) has announced a change in senior management effective June 1, 2026. Shri BHV Prasad, Executive Director (Projects), has ceased due to superannuation, and Shri Pattathil Sujith has been appointed as the new Executive Director (Projects).

• · Shri BHV Prasad ceased as Executive Director (Projects) effective June 1, 2026, upon superannuation.
• · Shri Pattathil Sujith, a Mechanical Engineer with over three decades of experience, has been appointed as Executive Director (Projects) effective the same date.
• · Shri Sujith has been with MRPL since 1993 and was involved in Phase I, II, and III commissioning, Asset Integrity Management System for Phase III, and the BS-VI project.

01-06-2026

ICICI Bank Limited appointed Mr. Ashwani Bhatia as an Additional (Independent) Director for a five-year term from June 1, 2026 to May 31, 2031, subject to shareholder approval. Mr. Bhatia brings over 40 years of experience, including as a Whole Time Member at SEBI and Managing Director of SBI. No financial figures or period-over-period comparisons are included in this filing.

• · Mr. Bhatia served as a Whole Time Member at SEBI from June 2022 to May 2025, overseeing departments including Debt and Hybrid Securities, Alternative Investment Fund, Foreign Portfolio Investors, Market Intermediaries Regulation, Corporation Finance Investigation, and Office of Investor Assistance & Education.
• · He retired as Managing Director of SBI after ~37 years with the State Bank Group, starting as a Probationary Officer in 1985.
• · He also served as Managing Director & CEO of SBI Funds Management Limited.
• · Mr. Bhatia holds a Bachelor of Science (Physics & Mathematics) from Dayalbagh University, Agra, and an MBA from Podar Institute of Management, Jaipur.
• · The appointment is subject to shareholder approval.

01-06-2026

Fine-line Circuits Ltd. published its audited financial results for the quarter and year ended March 31, 2026, showing a strong recovery. Total income from operations for the year surged to ₹43,381.21 Lakhs from ₹36,931.47 Lakhs in the prior year, and net profit after tax swung to ₹1,074.11 Lakhs from a loss of ₹964.07 Lakhs. However, the quarterly net profit after tax for Q4 FY26 was ₹457.21 Lakhs, compared to a loss of ₹225.72 Lakhs in Q4 FY25, while the standalone quarterly results show a profit after tax of only ₹1.52 Lakhs for the year ended March 2026, indicating a mixed performance across segments.

• · The standalone profit after tax for the year ended March 2026 was only ₹1.52 Lakhs, a sharp decline of 92.3% from ₹19.74 Lakhs in the prior year.
• · Earnings per share (basic & diluted) for the year ended March 2026 stood at ₹0.03, compared to ₹0.41 in the prior year.
• · Total comprehensive income for the year ended March 2026 was ₹1,110.08 Lakhs, versus a loss of ₹926.11 Lakhs in the prior year.
• · The company's paid-up equity share capital remained unchanged at ₹482.65 Lakhs (face value ₹10 each).
• · Other equity (excluding revaluation reserves) increased to ₹430.83 Lakhs as on 31/03/2026 from ₹399.41 Lakhs as on 31/03/2025.

01-06-2026

Balmer Lawrie & Company Limited disclosed fines of ₹7,50,480 (inclusive of GST) imposed by NSE Limited for non-compliance with SEBI Listing Regulations during the quarter ended March 31, 2026. The violations include lack of Independent Director, Woman Director, and Independent Woman Director from March 28-31, 2026, and insufficient Non-Executive Directors. The company attributes the non-compliance to factors beyond its control, as board composition depends on the Ministry of Petroleum & Natural Gas, and has sought a waiver from NSE.

• · Non-compliance period for Independent Director, Woman Director, and Independent Woman Director: March 28, 2026 to March 31, 2026.
• · Non-compliance with Regulation 19(1)(b) regarding Nomination and Remuneration Committee composition from January 1, 2026 to March 17, 2026 due to only 2 Non-Executive Directors.
• · Company is a Central Public Sector Enterprise under administrative control of Ministry of Petroleum & Natural Gas.
• · Article 7A of Articles of Association allows President of India to appoint directors, making board composition dependent on government direction.
• · Company has made representation to NSE Limited for waiver of the fine.

01-06-2026

Fine Organic Industries Limited has issued a notice to shareholders regarding the mandatory transfer of equity shares to the Investor Education and Protection Fund (IEPF) for unclaimed dividends from FY2018-19. The deadline for claiming unpaid dividends is August 10, 2026, after which shares will be transferred to the IEPF Demat account. This is a routine regulatory compliance action and involves no financial impact on the company's operations.

• · The notice was published in 'Financial Express' (English, All Editions) and 'Pratahkal' (Marathi, Mumbai Edition) on June 1, 2026.
• · The unclaimed dividend pertains to the financial year 2018-19, which remained unpaid for 7 years.
• · Shares will be transferred to IEPF within 31 days from the due date i.e. August 31, 2033? (text unclear).
• · Shareholders must claim dividends on or before August 10, 2026 to avoid share transfer.
• · The RTA is KFin Technologies Limited (Toll Free: 18003094001, Email: einward.ris@kfintech.com).
• · Shareholders can file online application in E-Form IEPF-5 on www.iepf.gov.in after obtaining Entitlement Letter from the company/RTA.