Final Order in the matter of Seacoast Shipping Services Limited
What is this order about?
SEBI issued a final order against Seacoast Shipping Services Limited and several individuals for misrepresenting financial statements and diverting funds during the investigation period from April 2020 to December 2023.
Who it concerns
Seacoast Shipping Services Limited, Manish Shah, Sameer Shah, Rakesh Shah, Parasmal Kundanmal Shah, CSB Projects Private Limited, Credo Holdings Private Limited, Deep Shah, Shail Shah, Cheryl Shah, Sushil Sanjot, Vipul Momaya, Jaydeep Shah, Apurv Patel, Viren Makwana, Shivangi Gajjar, Ankita Soni, Parin Shah, Parth A Patel, Pawansut Swami, Vinay Kumar Jain
What was found or directed
- Misrepresentation of financial statements during FY 2020-21, FY 2021-22, FY 2022-23, and periods April 2023-Sept 2023 and Oct 2023-Dec 2023
- Diversion of funds by SSSL
- Fraudulent preferential allotment and divestment of stake by Promoters
- Restrained from raising money from public
- Restrained from buying, selling or dealing in securities until further orders
| Source body | Securities & Exchange Board of India (SEBI) — enforcement orders |
| Reference number | WTM/KV/CFID/CFID-CORD/31688/2025-26 |
| Status | closed (section: order) |
| Year | 2025 |
| Closing date | — |
| Documents | 1 |
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Documents
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