SEBI Special Court convicts Shardaraj Tradefin Ltd directors for failing to pay ₹50 lakh penalty imposed for fraudulent IPO transactions.
Directors Chiranjit Mahanta fined ₹50 lakh and Rajlaksmi Bhattacharjee fined ₹25 lakh with six months imprisonment in default of payment.
Case involved round-tripping of ₹8.25 crore from Brooks Laboratories Ltd IPO through fictitious inter-corporate deposits.
Judgment delivered on 16 April 2026 after trial proceedings that commenced in 2021 with multiple SAT appeals.