Nuvama Asset Management Limited (NAML), a wholly-owned subsidiary of Nuvama Wealth Management Limited, received an administrative warning on November 7, 2025. The warning from SEBI advises NAML to exercise caution and prevent any recurrence of the noted observations. The observations relate to compliance in its capacity as a Portfolio Manager and do not impact the financials or operations of Nuvama Wealth Management Limited.
Administrative Warning Issued to Subsidiary
Nuvama Wealth Management Limited has announced that its wholly-owned subsidiary, Nuvama Asset Management Limited (NAML), has received an administrative warning. The warning was issued on November 7, 2025.
Details of the Warning
The Securities and Exchange Board of India (SEBI) issued the administrative warning, advising NAML to be careful and avoid recurrence of the observations noted during an inspection. The observations relate to the onsite inspection of NAML’s books of accounts and other records while acting as a Portfolio Manager.
The inspection revealed potential violations related to SEBI (PMS) Regulations, 2020, and the SEBI Master Circular for Portfolio Managers. Specific areas of concern included client reporting, data reporting, and NISM certification.
Impact on Nuvama Wealth Management
According to the company’s announcement, this warning is not expected to have any impact on the financials, operations, or other activities of Nuvama Wealth Management Limited or its other subsidiaries/associates. The company is taking measures to address the concerns raised by SEBI and ensure full compliance with all regulations moving forward.
Source: BSE
