Draft Red Herring Prospectus Shows No Action Yet on SEBI Notice

The latest DRHP, filed ahead of the upcoming public issue, confirms that SEBI has not taken any further step against the promoters after the February 2022 summons.

On February 16, 2022, the promoters responded to the notice via a formal letter, providing the requested information. Later, on August 10, 2024, they reiterated that they had already answered the regulator’s queries and had received no additional communication.

The prospectus stresses that, while the matter remains open, the company continues to cooperate with the securities regulator and is prepared to meet any future compliance requirements.