SEBI issued a warning letter to Manappuram Finance's Chairman and MD, VP Nandakumar, over a delayed shares-related disclosure. The issue arose from a 7-day delay in disclosure of encumbrance/ pledge of Nandakumar's company shares for transactions executed in September 2018. The regulator noted this constituted a breach under SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.