The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Vikas Garg
VIKASECO · price
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Vikas Garg, a promoter of Vikas EcoTech Ltd, has submitted 15 past disclosures under Regulation 29(2) of SEBI (SAST) Regulations, 2011, covering share purchases and sales made between May 2016 and March 2022. The submissions were made on July 10-11, 2025, in connection with a Show Cause Notice dated May 13, 2025 (ref: SEBI/EAD-5/AN/RG/12291/1/2025) issued by SEBI, for which the promoter is seeking settlement under the SEBI (Settlement Proceedings) Regulations, 2018. The transactions include major purchases like 1.45 crore shares in October 2016 (5.70%), 2.7 crore shares in November 2020 (9.65%), and 3.84 crore shares in March 2022, alongside significant sales such as 1.65 crore shares in late 2018 (5.89%) and 5.4 crore shares in November 2020. The late disclosure suggests possible non-compliance with the 2% disclosure threshold trigger under SAST rules.
This filing signals regulatory scrutiny of the promoter for potentially delayed SAST disclosures, with the settlement route indicating likely monetary penalties or sanctions. Shareholders should watch for SEBI's order on the settlement application, as adverse outcomes could increase governance concerns and create short-term pressure on the stock.