Final Order in the matter of Kalahridhaan Trendz Ltd.

This is a final order by SEBI regarding Kalahridhaan Trendz Ltd. and its directors, concerning alleged failures to disclose bank defaults and the making of false corporate announcements about business expansion and a large order from a fictitious Bangladeshi entity.

Kalahridhaan Trendz Limited, Niranjan D Agarwal, Aditya N Agarwal, and Sunitadevi Niranjan Agarwal

• SEBI found that the company failed to disclose defaults on credit card dues (₹50.99 Lakh) and business loan dues (₹30.23 Lakh) to HDFC Bank.
• SEBI found that the company made misleading announcements regarding production expansion and profit margins without providing supporting evidence.
• SEBI found that the company announced a ₹115.50 Crore order from 'Beximcorp Textiles' (Bangladesh), which SEBI determined was fictitious as no such company or contract exists in Bangladesh records.
• SEBI noted that trading volume in the company's stock increased by approximately 300% following the misleading announcement on May 02, 2024.
• The order references interim directions restraining the noticees from buying, selling, or dealing in the securities market until further orders.
• The company is listed on the NSE SME Platform and raised ₹22.49 Crore through its IPO.

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