Praveg Ltd Fined ₹2 Lakh by SEBI for Amalgamation Non-Compliance

Praveg Ltd has received an Adjudication Order from the Securities and Exchange Board of India (SEBI) imposing a total penalty of INR 2,00,000/-. The penalty comprises INR 1,00,000/- under Section 15HB of the SEBI Act, 1992, and INR 1,00,000/- under Section 23H of the Securities Contracts (Regulation) Act, 1956. These penalties are for alleged violations related to the amalgamation of Sword and Shield Pharma Limited with Praveg Ltd, specifically non-compliance with certain clauses of a SEBI circular and Regulation 11 of the SEBI Listing Regulations. The company is required to pay the penalty within 45 days of receiving the order. No other significant financial or operational impact has been quantified.