Legal1 Jul 2026, 06:40 pm
Nandan Denim Promoter Group Member Penalized by SEBI
AI Summary
Nandan Denim Ltd has informed that Mr. Vedprakash Devkinandan Chiripal, a member of the promoter group, has received a final order from the Securities and Exchange Board of India (SEBI). The order, dated June 30, 2026, imposes a monetary penalty of ₹5,00,000 and a four-year ban from the securities market. This action is taken under various sections of the SEBI Act, 1992. The company believes this order will not have a material financial or operational impact. The promoter group reserves the right to appeal the SEBI order.
Key Highlights
- SEBI imposed ₹5 Lakh penalty on promoter group member.
- A four-year securities market ban has been issued.
- Company assesses no material financial impact.
- Promoter group retains appeal rights.
- Order received on July 1, 2026.
Price Impact
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