VIKRAN ENGINEERING LIMITED

SEBI Warning Letter Details

  • Authority: Deputy Manager, General Supervision Enforcement and Complaints (SEC-5), Corporation Finance Department (CFD), Securities and Exchange Board of India
  • Reference Number: I/25138/2026 dated 4th November 2026
  • Date of Receipt: Wednesday, 4th November 2026 at approximately 3:40 PM via email
  • Subject: Administrative Warning - Non-compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

Details of Violation

SEBI examination revealed the company failed to disclose a material dispute with GS Products India that had initiated proceedings before the MSME Facilitation Council, Aligarh. The dispute involved a claim of approximately ₹12.50 crore against the company.

The company argued that the additional disputed amount was approximately ₹1.81 crore, which was below its materiality threshold of ₹3.26 crore. However, SEBI observed that the aggregate claim of approximately ₹12.50 crore exceeded the company's stated materiality threshold, making it a disclosable event under Regulation 30 read with sub-paragraph 8 of paragraph B of Part A of Schedule II of the LODR Regulations.

Company Response and Actions

  • The matter was placed before the Board of Directors at their meeting on Thursday, 5th November 2026
  • The Board meeting concluded at 5:00 PM on 5th November 2026
  • Following Board deliberation, the warning letter was disseminated to stock exchanges as part of the Board meeting outcome
  • The company is currently examining SEBI's observations and underlying details
  • The company will undertake appropriate corrective measures where necessary
  • The company will consult legal representatives and advisors on the matter

Financial Impact Assessment

The liability, if any, shall be limited to the extent determined upon completion of examination. The financial impact, if any, shall be assessed and disclosed separately as applicable. No quantifiable financial impact has been determined at this stage.

SEBI Directives

  • The company and its Board of Directors are warned to be careful in future and improve compliance standards
  • The company must disclose this warning letter to recognized stock exchanges under Regulation 30 of LODR Regulations
  • The letter must be placed before the Board of Directors in the ensuing Board Meeting
  • Failure to comply may result in appropriate enforcement action being initiated