Key Quantitative Figures
- 24,00,000 equity shares acquired by Mansi Narang on March 27, 2025
- Acquisition made by way of gift from Shri Naveen Narang
- Intimation due date: March 20, 2025
- Actual intimation date: March 25, 2025 (5 days late)
Dates of Action
- Share acquisition date: March 27, 2025
- Regulatory warning letter date: November 9, 2026
- Company receipt date: November 9, 2026 (via email)
- Company disclosure date: November 10, 2026
Parties Involved
- Regulatory Authority: Securities and Exchange Board of India (SEBI)
- Recipient: Mrs. Mansi Narang (DIN: 07089546), Non-Executive Director and Promoter of Max Heights Infrastucture Limited
- SEBI Officials: Rohan Shukla (Assistant General Manager), Sareena U (cc'd)
- Company Representative: Sonali Mathur, Company Secretary and Compliance Officer (M.No: F13821)
Nature of Violation
Failure to comply with Regulation 10(5) of SAST Regulations which requires acquirer to intimate stock exchanges of proposed acquisition details "at least four working days prior to the proposed acquisition." The intimation for the acquisition of 24,00,000 equity shares was due on or before March 20, 2025 but was made on March 25, 2025.
Financial and Operational Impact
The administrative warning letter does not impose any monetary penalty or financial liability upon the Company. There is no financial and operational impact on its operations or any other activity of the company. The letter is cautionary in nature and instructs the company to be careful in future.