Manappuram Finance Limited has reported an inadvertent violation of the SEBI (Prohibition of Insider Trading) Regulations, 2015, by a Designated Person, Mr. Abhijit Sen, who is an Independent & Non-Executive Director and Chairman of the Audit Committee. The violation occurred due to an operational lapse on the part of the Portfolio Management Service (PMS) provider, despite prohibitory instructions from Mr. Sen to restrict trading in the company's equity shares. The trade involved 2,111 shares valued at ₹6,14,828.75 on February 3, 2026. The company has investigated the matter and initiated corrective actions, ensuring necessary safeguards against recurrence. The PMS provider confirmed the trade was an operational lapse, and Mr. Sen stated he was not in possession of Unpublished Price Sensitive Information (UPSI) and had no intent to contravene regulations. The transaction was executed without prior pre-clearance as required. Following an examination by the Compliance Officer and review by the Audit Committee and the Board, the company noted the violation as technical and inadvertent. A monetary penalty of ₹20,000 has been imposed on Mr. Sen, which is being remitted to the SEBI – Investor Protection and Education Fund (IPEF) via an online transfer on April 7, 2026.
