SEBI bars two promoters from disposing assets over unpaid penalties
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On the reaction day the stock moved 0.3 pts more than Nifty Microcap 250 and 0.7 pts more than its IT Enabled Services peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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SEBI's recovery officer issued prohibitory orders on October 15, 2026 against promoter-director Suresh Venkatachari and promoter R S Ramani for unpaid penalty dues of Rs 3.87 crore and Rs 2.58 crore, plus interest and costs. Earlier orders attached their bank accounts, demat holdings and mutual fund units. The latest order bars them from disposing of, transferring or charging assets and requires asset details and title deeds within two weeks. The company reports no impact on its financial or operating activities.
The company reports no financial or operating impact, but the promoter order may hurt investor confidence and pressure the share price.