Order in the matter of Vishvaraj Environment Limited
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What is this order about?
SEBI examined whether Vishvaraj Environment Limited and its merchant bankers failed to disclose regulatory issues involving Premier Financial Services Private Limited (PFSPL), a major shareholder, in the company's draft IPO prospectus.
Who it concerns
Vishvaraj Environment Limited, JM Financial Limited, Axis Capital Limited, DAM Capital Advisors Limited
What was found or directed
- PFSPL holds nearly 100% of Vishvaraj Environment Limited's shares
- RBI reported PFSPL's regulatory violations including unapproved office shift, unapproved director appointment, and failure to file audited returns
- SEBI found no disclosure of RBI's regulatory issues in the draft IPO prospectus
- Merchant bankers failed to ensure disclosure of material information
- RBI confirmed all violations were regularized by February 20, 2026
| Source body | Securities & Exchange Board of India (SEBI) — enforcement orders |
| Reference number | WTM/KCV/CFD/26/2025-26 |
| Status | closed (section: order) |
| Year | 2026 |
| Closing date | — |
| Documents | 1 |
Highlights & Points worth asking
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Documents
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Order
2026-03-20
vishvaraj_environment_ltd.pdf
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