DIC India Limited, a well-known name in the manufacturing of printing inks and related products, has successfully concluded a settlement with the Securities and Exchange Board of India (SEBI). The settlement is a direct result of the company’s proactive efforts to address regulatory concerns raised by SEBI regarding delayed disclosures under the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This settlement process, finalized in March 2025, follows the payment of INR 34.32 Lakhs as directed by SEBI in February 2025.

Background to the Settlement

In the past, DIC India had faced issues related to delayed disclosures under Regulation 23(9) and Regulation 30 of the Listing Regulations, both of which govern the timely release of financial results and material information for investors. These regulatory lapses were identified by SEBI, triggering an investigation and subsequent settlement proceedings under the SEBI (Settlement Proceedings) Regulations, 2018. As per SEBI's regulations, companies that violate listing norms may face substantial penalties or enforcement actions unless they enter into settlement proceedings by paying a specified settlement amount.

The Settlement Process

On February 7, 2025, DIC India disclosed the initiation of settlement applications with SEBI under Settlement Applications numbered 8032 and 8033 of 2024. Following these applications, the company made a payment of INR 34.32 Lakhs as the settlement amount, a step mandated by SEBI to resolve the issue. This payment was made promptly, ensuring that DIC India remained in compliance with SEBI’s directives and avoided any further enforcement actions. SEBI confirmed that, post-payment, all matters associated with the delayed disclosures were considered settled, and no further penalties or sanctions would be imposed.

Final Settlement Order

On March 21, 2025, SEBI issued the final settlement order, which was received by DIC India on March 24, 2025. This order clearly outlined that the company had complied with the payment conditions and had resolved the violations in accordance with SEBI's guidelines. SEBI also noted that the delay in disclosures was the primary issue and did not affect the financial health of the company moving forward. Importantly, the company was relieved of any further enforcement action under the SEBI Regulations.

Financial and Operational Impact

The settlement has no further financial implications for DIC India, as the settlement amount of INR 34.32 Lakhs has already been paid. The company’s operations remain unaffected, and the settlement ensures that there will be no further penalties or sanctions related to the violations of the Listing Regulations. This resolution has effectively closed the matter, allowing DIC India to focus on its operations without the looming concern of regulatory enforcement actions.

Compliance and Future Outlook

The company has assured that all future disclosures will adhere strictly to SEBI regulations, ensuring compliance with all Listing Regulations and avoiding any further delays or violations. By settling the matter proactively and cooperating fully with SEBI’s investigation and settlement process, DIC India has reinforced its commitment to regulatory compliance and transparency in its operations.

In conclusion, the final settlement order from SEBI brings closure to the matter of delayed disclosures, marking a significant moment in DIC India’s journey towards maintaining high standards of corporate governance. The company remains committed to ensuring timely and accurate reporting, which is crucial for maintaining investor trust and confidence in the long run.

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