SEBI Final Order Imposes Penalty and Restraint on Vishal Fabrics Ltd Promoter Group
Vishal Fabrics Ltd has reported that its promoter group, comprising Mr. Vedprakash Devkinandan Chiripal and Mrs. Savitridevi V Chiripal, received a final order from the Securities and Exchange Board of India (SEBI). The SEBI action, which was finalized on June 30, 2026, includes imposing significant monetary penalties and restricting the promoters' activities in the securities market.The SEBI Final Order, issued against the promoter group and 225 other entities, stipulated a penalty of Rs. 5,00,000/- to each promoter. Furthermore, the order restricted the individuals from accessing the securities market, directly or indirectly, or being associated with any manner related to the securities market for a period of four years from the date of the final order. This action was taken under Section 11(1), 11(4), 11(4A), 11B (1), and 11B (2) of the Securities and Exchange Board of India Act, 1992.
The promoter group received this final order on July 01, 2026. The details regarding the violation or contravention committed are recorded within the SEBI Final Order dated June 30, 2026.
Regarding the impact on the company and its operations, Vishal Fabrics Ltd has stated that, based on their assessment, current law, and counsel advice, the order is not expected to have any material financial or operational impact on the Company. The promoter Group reserves the right to appeal the SEBI Order before the Hon'ble Securities Appellate Tribunal (SAT) and the Hon'ble Supreme Court of India, as per provisions under Section 15T and 15Z of the SEBI Act, 1992.
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