Carnation Industries Limited has made a disclosure to BSE Limited pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This disclosure is in continuation of the company's earlier disclosures dated April 19, 2025 and June 23, 2026 regarding proceedings initiated by the Directorate of Enforcement under the Prevention of Money Laundering Act, 2002.
The disclosure concerns the examination of transactions involving certain foreign entities/SEBI-registered Foreign Portfolio Investors (FPIs) and their investments in various listed companies. The company has been informed of a new development involving one of its Promoters, Mr. Vikas Garg, who has been taken into custody by the Directorate of Enforcement under the applicable provisions of the Prevention of Money Laundering Act, 2002.
Key Details:
- Nature of Event: Promoter Mr. Vikas Garg taken into custody by Enforcement Directorate
- Time of Occurrence: July 14, 2026
- Legal Framework: Prevention of Money Laundering Act, 2002
- Estimated Amount Involved: Not ascertainable
- Impact Assessment: The company states this development has no material impact on its business operations, which continue in the ordinary course
Company Response:
The company is evaluating this development in consultation with its legal advisors and shall take such steps as may be considered appropriate in accordance with applicable law. The company has committed to making further disclosures as may be required under applicable law.
The disclosure includes Annexure 1 as required under Regulation 30 of the SEBI (LODR) Regulations, 2015 read with SEBI Master Circular HO/49/14/14(7)2025-CFDPOD2/I/3762/2026 dated January 30, 2026, which provides the structured format details of the event.