Date: 28th July, 2026
Regulatory & Legal Update
SEBI Adjudication Order Outcome
- The Adjudicating Officer of the Securities and Exchange Board of India (SEBI) passed an order dated 28th July 2026.
- The order was issued under Section 15-I of the SEBI Act, 1992, read with Rule 5 of the SEBI (Procedure for Holding Inquiry and Imposing Penalties) Rules, 1995.
- The order concluded that, owing to lack of evidence, no penalty was imposed.
Background of the Case
- The order relates to a Show Cause Notice issued by SEBI to four directors of the company: Mr. Yoginbhai Patel, Mr. Ambusinh Gol, Mr. Premalsinh Gol, and Mr. Dineshbhai Patel.
- The company had previously intimated the exchange about this notice on 1st May 2025, with subsequent updates.
Alleged Violations
- The notice alleged violations of Section 12A(a), 12A(b), and 12A(c) of the SEBI Act, 1992.
- It also alleged violations of Regulation 3(a), 3(b), 3(c), 3(d), 4(1), 4(2)(a), 4(2)(k), and 4(2)(r) of the SEBI (Prohibition of Fraudulent and Unfair Trade Practices relating to Securities Market) Regulations.
Impact Assessment
- The company explicitly states: \"Impact on financial, operation or other activities of the listed entity, quantifiable in monetary terms to the extent possible: Not Applicable.\"
Disclosure Compliance
- It also follows SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated 13th July 2023.