Monte Carlo Fashions Limited, a leading apparel manufacturer based in Ludhiana, Punjab, India, has received a warning letter from the National Stock Exchange of India Limited (NSE) regarding the disclosure of its Permanent Account Number (PAN) on official letterheads used in corporate announcements. The company has assured compliance with SEBI Listing Regulations and pledged to avoid such disclosures in the future.
Monte Carlo Fashions Limited, a prominent apparel company headquartered in Ludhiana, Punjab, has received a warning letter from the National Stock Exchange of India Limited (NSE) regarding a regulatory lapse. The company was found to have disclosed its Permanent Account Number (PAN) on official letterheads used in corporate announcements submitted to stock exchanges.
The warning, issued on March 24, 2025, referenced NSE communication number NSE/LIST/COMP/MONTECARLO/01/2024-2025. NSE emphasized that such disclosure violates exchange guidelines and directed Monte Carlo Fashions to refrain from including sensitive financial information in public disclosures. The exchange further warned that any future violations would be dealt with strictly.
In response, Monte Carlo Fashions Limited assured stock exchanges of its adherence to the Securities and Exchange Board of India (SEBI) Listing Regulations. The company clarified that it does not disclose personal information such as PAN or Aadhaar in corporate announcements related to third parties and has committed to ensuring the same for its own disclosures moving forward.
Monte Carlo Fashions Limited is a well-known name in the Indian textile and apparel industry, specializing in premium winter wear and casual clothing. The company operates from its registered office in Ludhiana and is listed on both NSE and BSE under the symbol ‘MONTECARLO’ (Scrip Code: 538836).
The NSE has instructed Monte Carlo Fashions to publicly disseminate the warning letter across stock exchanges.
