Key Details of SEBI Communication
- Authority: Deputy General Manager, Corporation Finance Department (CFD), Division of Supervision, Enforcement and Complaints-5, Securities and Exchange Board of India
- Reference Number: I/25433/2026
- Issue Date: November 06, 2026
- Receipt Date: November 11, 2026 (received via email communication from BSE Limited)
- Addressed To: Mr. Sachin Rawat, Company Secretary and Compliance Officer
Nature of Violation
The company violated Regulation 22(2A) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 (SAST Regulations). Specifically, the company credited shares through preferential allotment to the personal demat accounts of allottees instead of crediting them to an Escrow Account as required.
SEBI Action and Requirements
SEBI issued an administrative warning letter advising the company and its Board of Directors to:
- Be careful in future to avoid recurrence of such lapses
- Place this communication before the board of directors in the upcoming board meeting
- Forward the board's comments to SEBI regarding corrective steps taken for future compliance
- Disclose this administrative warning letter to the stock exchange under Regulation 30 of LODR Regulations, 2015
Consequences of Non-Compliance
SEBI warned that any repetition of such violations in future will be viewed seriously and appropriate enforcement action would be initiated in accordance with the provisions of the SEBI Act, 1992, the Rules, the Regulations or Circulars issued thereunder.
Financial and Operational Impact
The company explicitly stated: "There was no impact on financial, operation or other activities of the Company."
Company Response and Next Steps
The company will place the SEBI warning letter before the forthcoming meeting of the Board of Directors. The disclosure was made by Sachin H Singh Rawat, CFO & Company Secretary, through a digitally signed communication dated November 11, 2026.