Registration of FIR against Mr. Navneet Kumar Sureka, Managing Director of the Company. Copy enclosed
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Mauria Udyog Ltd informed the stock exchange that an FIR (No. 386, dated 22 July 2025) has been registered against its Managing Director, Mr. Navneet Kumar Sureka, at Police Station Sector-58, Faridabad under sections 318(4), 336(3), 338, 340, 61 and 126 of BNS 2023 (relating to cheating, forgery and criminal breach of trust). The complaint was filed by Mr. Vishnu Kumar Sureka, the MD's father and a fellow promoter, along with the MD's younger brother. The MD has termed the FIR as false, fabricated and an attempt to usurp his property. Additionally, the MD flagged that his father has been selling equity shares of the company (held via Vishnu Kumar Sureka HUF) in the open market over the last 10–15 days without prior intimation to the company or pre-clearance from the Compliance Officer.
This reflects a serious internal family feud among promoters that raises corporate governance red flags. The undisclosed open-market share sales by a promoter without compliance pre-clearance could attract SEBI insider trading scrutiny and is likely to be viewed negatively by investors, potentially pressuring the stock price.