Ex-Parte Interim Order in the matter of Osiajee Texfab Limited

What is this order about?

SEBI issued an ex-parte interim order concerning Osiajee Texfab Limited (OTL) and several individuals and entities, examining alleged market manipulation and misleading announcements about the company's business operations.

Who it concerns

Osiajee Texfab Limited, Ms. Reema Saroya, Mr. Akashdeep Jain, Mr. Neeraj Kumar Singla, Ms. Basanti, Mr. Ranchha Ram, Ms. Sweety Gandhi, Ms. Kanta Saini, Mr. Sahil Gupta, Mr. Hashmeet Singh Taneja, Mr. Ishvar Lal, Ms. Meena Saroya, Mr. Ashish Gandhi, Shreni Shares Limited, Navraav Electro Limited, Mr. Sarvjeet Singh Taneja, Ms. Puneet Bajaj, Mr. Sanjeev Dayaprasad Mishra, Ms. Nisha Saroya, Mr. Vikas Jain

What was found or directed

• SEBI found that 10 top LTP contributors during April 30, 2026 to May 14, 2026 were clients of Shreni Shares Limited (SSL) in Hoshiarpur, Punjab
• 6 of the top 10 LTP contributors had trading concentration of more than 50% in OTL scrip
• OTL's textile business had nil revenue for 2023-24 and 2024-25
• OTL made misleading announcements about textile business growth despite nearly no revenue from textile business
• OTL's revenue primarily came from its subsidiary OAFL
• OTL and OAFL shared the same registered office address
• OTL's MD Ms. Reema Saroya and her relatives traded in OTL scrip through SSJFL