Order in the matter of Arcotech Ltd.
What is this order about?
SEBI issued an order examining Arcotech Limited and related individuals for alleged violations of securities laws, including misrepresentation in financial statements and diversion of funds.
Who it concerns
Arcotech Limited, Mr. Radhanath Pattanayak, Mr. Arvind Kumar Saraf, Mr. Rishabh Saraf, Mr. Akshaya Kumar Biswal, Mr. Arvind Dadheech, Ms. Nidhi Jain, Sidhant Distributors Pvt. Ltd., Ms. Renu Saraf, Arcotech Info Ltd., Cloast Trade & Services Pvt. Ltd., Siddhivinayak Stockist & Trades Pvt. Ltd., Good Value Products Limited, Nihon Sales Private Limited
What was found or directed
- Diverted funds of Rs. 14.15 crores to Sidhant Distributors Pvt. Ltd. for preferential share allotment
- Misrepresentation of financial statements for FY 2016-17 to 2019-20 through fictitious transactions
- Failure to disclose seizure of registered office by IFCI Ltd.
- Failure to disclose reduction of promoter shareholding due to pledged shares invocation by IFCI Ltd.
- Violations of PFUTP Regulations, LODR Regulations, and SAST Regulations
| Source body | Securities & Exchange Board of India (SEBI) — enforcement orders |
| Reference number | — |
| Status | closed (section: order) |
| Year | 2026 |
| Closing date | — |
| Documents | 1 |
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