SEBI adjudication order imposes penalties on Lypsa Gems & Jewellery Ltd and its directors for multiple violations of LODR and PFUTP regulations.
Violations include non-disclosure of cash flow statements, consolidated financials, auditor reports, and AOC-1 forms across multiple financial years.
Company failed to recognize ₹52.29 crore provision for long-outstanding international debtors and ₹8.68 crore for domestic debtors, misstating financials.
SEBI found fraudulent diamond transactions inflating revenue by 69.21% and purchases by 56.25% through connected entities Anjani Goods and Anjani Enterprise.