Nuvama Wealth Management Limited announced that its wholly-owned material subsidiary, Nuvama Wealth and Investment Limited, has been penalized ₹5,00,000 by the Securities and Exchange Board of India (SEBI) via an adjudication order dated July 16, 2025. The penalty was levied following a comprehensive inspection conducted by SEBI, Exchanges, and Depositories for the period between April 1, 2022, and November 30, 2023, which identified certain operational gaps.
| Particulars | Details |
|---|---|
| Authority | Securities and Exchange Board of India (SEBI) |
| Penalty Amount | ₹5,00,000 |
| Order Date | July 16, 2025 |
| Violation Period | April 1, 2022 - November 30, 2023 |
| Impact | No impact on the financials, operations, or other activities of the Company or its subsidiaries/associates |
Background of the Penalty
The penalty was imposed as a result of operational gaps identified during a joint inspection by SEBI, Exchanges, and Depositories, covering the period from April 1, 2022, to November 30, 2023. The inspection was aimed at ensuring compliance with regulatory standards and identifying any potential lapses in operational procedures.
Company Statement
Nuvama Wealth Management Limited has clarified that the penalty will not have any impact on the financial, operational, or other activities of the company or its subsidiaries and associates. The company has taken the necessary steps to address the identified gaps and ensure compliance with regulatory requirements.
