Promoter Vikas Garg Taken Into Custody by Directorate of Enforcement; Vikas Lifecare Reports No Material Impact on Business Operations
Vikas Lifecare Ltd has announced that one of its Promoters, Mr. Vikas Garg, was taken into custody by the Directorate of Enforcement. The company confirmed that this event holds no material impact on its ongoing business operations, which continue in the ordinary course.The development relates to proceedings initiated by the Directorate of Enforcement under the Prevention of Money Laundering Act, 2002. These investigations involve the examination of transactions linked to various listed companies and foreign entities or SEBI-registered Foreign Portfolio Investors (FPIs).
Vikas Lifecare Ltd stated that it is currently evaluating this development in consultation with its legal advisors. The company reaffirmed that despite the custody of Mr. Vikas Garg, the business operations of the company remain unaffected, and the company will make necessary future disclosures as required by applicable law.
Key details regarding the situation were provided by the company:
| Aspect | Details |
|---|---|
| Person Involved | Mr. Vikas Garg |
| Date of Custody | July 14, 2026 |
| Nature of Allegations | In continuation of investigations by the Directorate of Enforcement under the Prevention of Money Laundering Act, 2002, concerning transactions involving foreign entities and FPIs. |
| Estimated Impact on Entity | The company is evaluating the situation with its legal advisors and confirms no material impact on business operations. |
| Estimated Amount Involved | Not ascertainable |
VIKASLIFE Stock Price Movement
Shares of Vikas Lifecare Limited slipped by 0.72% on Wednesday, settling at ₹1.38 after trading activity concluded. The stock saw a volume of 4.74 million shares during the session, having traded within a range defined by the day’s low of ₹1.36.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.
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