SEBI issued an Administrative Warning Letter dated March 24, 2026 to V.B. Desai Financial Services Limited following an inspection of its books and records.
Three compliance violations were found: failure to timely intimate KMP changes, failure to maintain Structured Digital Database (SDD) from April 2022 to February 2023, and inadequate merchant banking infrastructure.
The company disclosed the letter to BSE on March 25, 2026 under Regulation 30 of SEBI (LODR), stating no financial, operational, or other business impact.