SEBI abates proceedings against deceased director in Bonanza Portfolio case
This order addresses SEBI's inspection of Bonanza Portfolio Limited (BPL) regarding its merchant banking activities for two public debt issues by Shakti Finance Limited. It primarily resolves the status of proceedings against BPL's directors, including one who passed away before the notice was issued.
Bonanza Portfolio Limited (Noticee 1), Satya Prakash Goel (Noticee 2, deceased), Shiv Kumar Goel (Noticee 3), Surendra Kumar Goel (Noticee 4), Vishnu Kumar Aggarwal (Noticee 5), Anant Gupta (Noticee 6), and Pradeep Kumar (Noticee 7).
- Proceedings against Satya Prakash Goel (Noticee 2) are abated because he died on May 26, 2026, before the Show Cause Notice was issued.
- SEBI found that no liability could be fastened upon directors Noticees 3 to 7 as they were not shown to be responsible for the conduct of the business.
- The Designated Authority recommended disposing of the proceedings without adverse action against all noticees.
- The case involves BPL's role as merchant banker for NCD VII and NCD VIII issues by Shakti Finance Limited during April 2022 to April 2024.
Written from the document by AI, and checked against it. The original below is authoritative.
The original document
Document details
| Official title | Order in respect of Bonanza Portfolio Limited and others |
| Source body | Securities & Exchange Board of India (SEBI) — enforcement orders |
| Reference number | — |
| Status | None (order) |
| Year | 2026 |
| Closing date | — |
| Documents | 1 |