Osiajee Texfab Clarifies Position Following SEBI Interim Order, Assures Business Continuity
Osiajee Texfab Ltd has issued a clarification to address misinformation and speculative reports circulating in the market following a recent interim order passed by the Securities and Exchange Board of India (SEBI). The company stated that it is neither a noticee nor a party to the proceedings initiated by SEBI.The management clarified that the interim order has not been passed against Osiajee Texfab Limited, and no directions or restrictions have been imposed on the Company under the said order.
In line with its commitment to transparency for investors and the public, the company emphasized that the SEBI proceedings relate to certain individuals in their personal capacities. Osiajee Texfab is not alleged to have engaged in any trading activity of its own shares, nor is it accused of off-loading any shares or disseminating misleading information to the securities market.
The Company assured stakeholders and customers that business operations continue in the ordinary course. There are no restrictions imposed on the company’s commercial activities or day-to-day functioning. All consolidated business commitments, customer relationships, vendor engagements, and operational activities continue as usual.
Osiajee Texfab stated that its consolidated business operations are progressing according to its established business plans. The management remains focused on operational growth, expansion, and strengthening the core business. The company affirmed that there has been no adverse impact of the proceedings on its day-to-day business activities or its obligations towards shareholders, employees, customers, and lenders.
The Company respectfully requested its shareholders and investors not to be influenced by rumours or speculation regarding the company's operations, advising them to rely only upon official disclosures through authorized channels. Osiajee Texfab reiterated its commitment to maintaining high standards of corporate governance and regulatory compliance.
Stock Price Movement
Osiajee Texfab Ltd shares settled at ₹351.75 on Friday, shedding 11.51% in the session. The stock tested a low of ₹341.10, having moved between that point and an intraday high of ₹380.00.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.
Any views, opinions, or statements expressed, where applicable, are those of the respective analysts or experts and do not reflect the views of this website. The website has no association with such viewpoints and does not assume any responsibility for them.