Regulatory30 Apr 2026, 06:33 pm
Peninsula Land gets SEBI warning for delayed fraud disclosure
AI Summary
Peninsula Land Ltd received an administrative warning from SEBI for violating Regulation 30(1) and 30(7) of LODR Regulations. The warning pertains to the delayed disclosure of an alleged fraud in a joint venture with K B Kothari Group. The company had knowledge of the fraud since April 2024 but disclosed it only in March 2025, upon FIR registration. SEBI also noted the March 2025 disclosure lacked clarity, not distinguishing between the ₹200 crore alleged fraud and the ₹3.64 crore established fraud. The company is advised to correct the disclosure, provide updates, and report corrective actions to its Board.
Key Highlights
- SEBI issued an administrative warning to Peninsula Land Ltd.
- Warning is for delayed disclosure of alleged fraud in a joint venture.
- Company failed to disclose fraud from April 2024 until March 2025.
- Disclosure lacked clarity on ₹200 Cr alleged vs ₹3.64 Cr established fraud.
- Company advised to correct disclosure and inform its Board.