SEBI Imposes Penalty and Market Restrictions on Nandan Denim Promoter Group
Nandan Denim Ltd.'s promoter group, including Mr. Vedprakash Devkinandan Chiripal, has received a final order from the Securities and Exchange Board of India (SEBI) imposing significant restrictions and a monetary penalty. The SEBI Final Order was issued on June 30, 2026.The regulatory action targets Mr. Vedprakash Devkinandan Chiripal and imposes a monetary penalty of Rs. 5,00,000/-. Furthermore, the promoter is restrained from accessing the securities market and prohibited from buying, selling or otherwise dealing in securities, directly or indirectly, or being associated with the securities market for a period of four years from the date of the final order.
Nandan Denim Ltd. received the final order dated June 30, 2026, on July 1, 2026. The penalty and restrictions are tied to violations as recorded in the SEBI Final Order.
Regarding the implications for the company, Nandan Denim Ltd. assessed that the order does not have any material financial or operational impact on the Company. Following the assessment of prevailing law and counsel advice, the Promoter Group reserves the right to appeal the SEBI Order to the Securities Appellate Tribunal (SAT) and the Supreme Court of India.
NDL Stock Price Movement
Today, Nandan Denim Limited shares edged higher, closing out the trading day at ₹2.42 after gaining 0.41%. The stock recorded a session volume of 751,568 shares.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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