SEBI on Friday banned the Kalahrdhan Trendz, its managing director Niranjan D. Aggarwal and two others from entering the security market. They are alleged to have allegedly accused of giving misleading information through stock exchanges in the revelations. SEBI examined the SME listed on the NSE SME exchange after a complaint of default in loan payment by HDFC Bank. According to the interim order cum show cause notice, the company has not disclosed this till date. Apart from this, it is alleged that the company made wrong revelations about the expansion. Despite an estimate of an estimate of an estimate of 25 per cent increase in profit from expansion of production capacity, the company failed to give information related to its order, timetable, investment etc., which could make this announcement correct.
The company also claimed that it had received a big order of Rs 115 crore from a firm named Beximcorp Textiles of Bangladesh. However, no such company was found in the database. Another group with the same name in the textile business in Bangladesh refused to sign any contract with the Indian SME. SEBI alleged that the company deliberately provided wrong details to mislead the regulator.
First Published – February 10, 2025 | 11:15 pm IST
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