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Recent Regulatory Orders

Recent Regulatory Orders

The regulatory orders issued during 15 days preceding today are listed in a chronological order.

NAMES IN BROWN COLOUR
Names of entities/persons in brown colour denote that the regulatory order is not against them but their names have been mentioned only for association purposes.

ENTITY

S. No.

DATE OF ORDER

ENTITY

PERSON

COMPETENT AUTHORITY

REGULATORY CHARGES

REGULATORY ACTION(S) / DATE OF ORDER

FURTHER DEVELOPMENTS

04-JUN-2026

KAE CAPITAL MANAGEMENT PVT.LTD.

(PAN:AAGCM3183K)

(Along with : KAE CAPITAL FUND II)

SASHA GULU MIRCHANDANI

(PAN:AACPM1608G)

SEBI

ALLEGED FAILURE TO ENSURE COMPLIANCE WITH MINIMUM CONTINUING INTEREST REQUIREMENT IN FUND VIOLATING REGULATIONS 20(1) READ WITH CLAUSES 2(A) AND 2(C) OF CODE OF CONDUCT IN FOURTH SCHEDULE OF SEBI (ALTERNATIVE INVESTMENT FUNDS) REGULATIONS, 2012

REACHED SETTLEMENT (SETTLEMENT CHARGES RS.12,75,000 ALONG WITH OTHER ENTITIES/PERSONS VIDE CONSENT ORDER)

04-JUN-2026

04-JUN-2026

UTILIS FUND

SEBI

DID NOT FILE QUARTERLY ACTIVITY REPORTS (QARS) ON SEBI INTERMEDIARY PORTAL

CANCELLED REGISTRATION AS ALTERNATE INVESTMENT FUND

04-JUN-2026

03-JUN-2026

AVI POLYMERS LTD.

BSE

COMPANY NOT TRACEABLE AT THE LAST KNOWN ADDRESS

PROHIBITED AND/OR SUSPENDED FOR TRADING FROM 04-JUN-2026

03-JUN-2026

03-JUN-2026

BLACKBERRY OVERSEAS PVT.LTD.

NCLT

DEFAULTED IN MAKING PAYMENT OF DUES

APPLICATION ADMITTED- RS.7,60,63,173

03-JUN-2026

03-JUN-2026

BLD METAL & ALLOYS PVT.LTD.

NCLT

DEFAULTED IN MAKING PAYMENT OF DUES

APPLICATION ADMITTED- RS.2,12,31,492

03-JUN-2026

03-JUN-2026

KARNAL CENTRAL CO-OPERATIVE BANK LTD.,THE

RBI

DID NOT PUT IN PLACE A SYSTEM OF RISK CATEGORISATION OF ACCOUNTS

DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON ROBUST SOFTWARE TO THROW ALERTS AS PART OF EFFECTIVE IDENTIFICATION OF ACCOUNTS, MONITORING AND/OR REPORTING OF SUSPICIOUS TRANSACTIONS

IMPOSED PENALTY RS.3,00,000

03-JUN-2026

03-JUN-2026

RAJESH EXPORTS LTD.

(PAN:AAACR8642N)

RAJESH JASVANTRAI MEHTA

(PAN:ADKPM0172C)

SEBI

DISSEMINATED FINANCIAL STATEMENTS AND ANNUAL REPORTS TO STOCK EXCHANGES AND INVESTORS VIOLATING SECTIONS 12A(A) TO 12A(C) OF SEBI ACT, 1992 READ WITH REGULATIONS 3(B) TO 3(D), 4(1), 4(2)(E), 4(2)(F), 4(2)(K) AND 4(2)(R) OF SEBI (PFUTP) REGULATIONS, 2003 IN MATTER OF RAJESH EXPORTS LTD.

PUBLISHED MISREPRESENTED FINANCIAL RESULTS AND ANNUAL FINANCIAL STATEMENTS TO STOCK EXCHANGES AND INVESTORS VIOLATING REGULATIONS 4(1)(C), 4(1)(E), 4(1)(G), 4(1)(H), 4(1)(J) AND 4(2)(E)(I) OF SEBI (LODR) REGULATIONS, 2015 IN MATTER OF RAJESH EXPORTS LTD.

DID NOT MAKE DISCLOSURE OF RELATED PARTY TRANSACTIONS VIOLATING REGULATION 34(3) READ WITH CLAUSE 1 OF PARA A OF SCHEDULE V OF SEBI (LODR) REGULATIONS, 2015 IN MATTER OF RAJESH EXPORTS LTD.

DID NOT PLACE RELATED PARTY TRANSACTIONS BEFORE AUDIT COMMITTEE AND DID NOT OBTAIN PRIOR APPROVAL FOR SUCH TRANSACTIONS VIOLATING REGULATION 23(2) OF SEBI (LODR) REGULATIONS, 2015 IN MATTER OF RAJESH EXPORTS LTD.

DID NOT ADHERE TO ACCOUNTING STANDARDS INCLUDING IND AS 1, IND AS 21, IND AS 24, IND AS 32, IND AS 107, IND AS 110 AND IND AS 115 VIOLATING REGULATIONS 4(1)(A), 4(1)(B), 4(2)(E)(I), 33(1)(A), 33(1)(C) AND 48 OF SEBI (LODR) REGULATIONS, 2015 IN MATTER OF RAJESH EXPORTS LTD.

DID NOT UPLOAD AUDITED FINANCIAL STATEMENTS OF ITS SUBSIDIARIES/STEP-DOWN SUBSIDIARIES ON WEBSITE VIOLATING REGULATION 46(2)(S) OF SEBI (LODR) REGULATIONS, 2015 AND SECTION 136(1) OF THE COMPANIES ACT, 2013 IN MATTER OF RAJESH EXPORTS LTD.

DID NOT PROVIDE INFORMATION TO SEBI

PROVIDED INCOMPLETE AND INACCURATE INFORMATION / DOCUMENTS

DID NOT CO-OPERATE WITH SEBI IN INSPECTION

DIRECTED TO CO-OPERATE WITH SEBI IN INVESTIGATION BY FURNISHING ALL RELEVANT INFORMATION

DIRECTED SEBI TO APPOINT FORENSIC AUDITOR TO EXAMINE BOOKS OF ACCOUNTS

DIRECTED TO EXTEND NECESSARY CO�OPERATION TO FORENSIC AUDITOR/AUDIT FIRM APPOINTED AND FURNISH ALL INFORMATION/DOCUMENTS SOUGHT

DIRECTED TO MAKE TRUE AND FAIR DISCLOSURES OF THEIR FINANCIAL STATEMENTS, RELATED PARTY TRANSACTIONS AND OTHER DISCLOSURES IN TERMS OF LODR REGULATIONS, 2015

03-JUN-2026

03-JUN-2026

RANIKA INVESTMENTS PVT.LTD.

(PAN:AAACR5548K)

SEBI

INDULGED IN CREATION OF ARTIFICIAL VOLUME THROUGH REVERSAL OF TRADE TRANSACTIONS IN ILLIQUID STOCK OPTIONS AT BSE

IMPOSED PENALTY RS.5,00,000

03-JUN-2026

03-JUN-2026

SELLWIN TRADERS LTD.

BSE

COMPANY NOT TRACEABLE AT THE LAST KNOWN ADDRESS

PROHIBITED AND/OR SUSPENDED FOR TRADING FROM 04-JUN-2026

03-JUN-2026

02-JUN-2026