SEBI finds Kore Digital inflated revenue via subsidiaries, no MCA filings
SEBI issued an interim order against Kore Digital Limited and its directors for alleged misrepresentation of financial statements and manipulation of accounts, including inflating revenue through subsidiaries and diverting funds.
Kore Digital Limited, Ravindra Doshi, Chaitanya Doshi, Kashmira Doshi
- SEBI found prima facie misrepresentation of financial statements
- Revenue from operations primarily derived from subsidiaries (average 75%)
- Three subsidiaries (Franken, Wolter, KRPL) acquired in 2024 with no public filings
- GST registrations of subsidiaries cancelled within a month of registration
- Step-down subsidiaries used to book revenue without disclosure
- Auditor failed to provide required information on subsidiaries
- Interim order issued under SEBI Act sections 11(1), 11(4), 11B
Written from the document by AI, and checked against it. The original below is authoritative.
The original document
Document details
| Official title | Interim Order in the matter of Kore Digital Limited |
| Source body | Securities & Exchange Board of India (SEBI) — enforcement orders |
| Reference number | WTM/KV/CFID/CFID-SEC1/32724/2026-27 |
| Status | None (order) |
| Year | 2026 |
| Closing date | — |
| Documents | 1 |