https://www.taxtmi.com/caselaws?id=774578 SEBI Board found prima facie violations by company and its promoter directors involving diversion of funds through connected entities, misleading disclosures about vehicle pre-orders, and violation of corporate governance norms. The company made false disclosures claiming 30,000 vehicle orders when only MOUs existed for 29,000 vehicles without pricing or delivery terms. Promoters were restrained from holding director positions and trading securities. The company was directed to halt announced stock split and submit to forensic audit within six months. en-us Tue, 15 Apr 2025 00:00:00 +0530 Fri, 11 Jul 2025 08:39:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=774578 SEBI Board found prima facie violations by company and its promoter directors involving diversion of funds through connected entities, misleading disclosures about vehicle pre-orders, and violation of corporate governance norms. The company made false disclosures claiming 30,000 vehicle orders when only MOUs existed for 29,000 vehicles without pricing or delivery terms. Promoters were restrained from holding director positions and trading securities. The company was directed to halt announced stock split and submit to forensic audit within six months. Case-Laws SEBI Tue, 15 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=774578