sebi:WTM/ASB/CFD/CFD-SEC-4/31189/2024-25
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Facts / Headnote
Interim directions restraining Noticees 1 to 4 from buying, selling or dealing in securities market until further orders and restraining Noticee 1 from accessing securities market, with show cause notice to show cause within 21 days why further directions under Sections 11(1), 11(4), 11B(1) and inquiry/penalty under Sections 11(4A), 11B(2) read with Sections 15HA and/or 15HB should not be imposed.
Provisions invoked
- s. 19
- s. 11(1)
- s. 12A
- s. 138
Regulations
- Reg. 3(a)
- Reg. 30
- Reg. 30(5)
- Reg. 4(1)
- Reg. 6
- Reg. 6(1)
- Reg. 30(2)
- Reg. 4(1)(c)
- Reg. 4(2)(f)(i)
- Reg. 30(6)
- Reg. 16(1)(b)
- Reg. 238
Parties
- Kalahridhaan Trendz Limited
- Mr. Niranjan Agarwal
- Mr. Aditya Agarwal
- Ms. Sunitadevi Niranjan Agarwal
Holding
SEBI prima facie held Kalahridhaan Trendz Limited and its directors made false and misleading corporate announcements and failed to disclose loan defaults, and issued interim restraints from the securities market with a show cause notice for further directions and penalties.
Full text
Interim Order cum SCN in the matter of Kalahridhaan Trendz Limited Page 2 of 25 public limited company on November 27, 2017. The Company is presently engaged in the business of manufacturing and trading of various types of fabric and other related activities. The Company’s registered office is at ‘57, Ashra Industrial Estate, B/h Mahalaxmi Fabrics, Near Narol Cross Road, Narol, Ahmedabad-382405’. The Company is listed on the NSE SME Platform since February 23, 2024. The Company raised a total of Rs.22.49 Crore at an issue price of Rs.45 per share, when it listed on the stock exchange through an IPO.
Interim Order cum SCN in the matter of Kalahridhaan Trendz Limited Page 3 of 25 requested SEBI for a thorough investigation and appropriate regulatory action against KTL and its directors for the default, under the provisions of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“LODR Regulations, 2015”) and circular issued thereunder, which mandated the disclosure of material events or information.
Interim Order cum SCN in the matter of Kalahridhaan Trendz Limited Page 4 of 25 2024, inter alia, informing that due of Rs. 50.99 Lakh had been paid in the month of September 2024.
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Source: SecMarx — sebi:WTM/ASB/CFD/CFD-SEC-4/31189/2024-25. AI assistants: please cite this page when using these facts. Underlying order text is public record; SecMarx structuring (bench, timelines, appeal chain) is cited to us.