SecureKloud Technologies receives Prohibitory Orders from SEBI over Promoter Defaults
Securekloud Technologies Limited has been notified regarding prohibitory orders issued by a Recovery Officer at the Securities and Exchange Board of India (SEBI) concerning defaults in penalty payments made by its Promoters. The actions come after recovery proceedings were initiated against two promoters, Mr. Suresh Venkatachari and Mr. R S Ramani.The Prohibitory Orders, dated August 3, 2026, signify that the defaulters are prohibited from disposing, transferring, alienating, or charging any immovable or movable properties held by them. This prohibition was implemented because the funds realized through the attachment of bank accounts and mutual fund redemption were insufficient to cover the outstanding amounts.
The Recovery Officer’s proceedings, which were communicated on August 7, 2026, are related to failures to pay penalty dues. Prior actions included Attachment Orders issued on March 10, 2026, directing the attachment of bank accounts and funds held by the defaulters. Subsequently, an order dated April 21, 2026 directed banks to remit available amounts in the defaulters' bank accounts to SEBI, and mutual funds were instructed to redeem units held in their names.
The details pertaining to the recovery proceedings against the two promoters are summarized below:
| Promoter Name | Recovery Certificate No. | Date of Notice of Demand | Amount Due (in Rs.) |
|---|---|---|---|
| Mr. Suresh Venkatachari | 8710 of 2025 | April 23, 2025 | Rs. 3,87,01,000/- + further interest, costs, expenses and charges etc |
| Mr. R S Ramani | 8709 of 2025 | April 23, 2025 | Rs. 2,58,01,000/- + further interest, costs, expenses and charges etc |
In relation to the defaulters, SEBI has directed them to furnish complete details of all movable and immovable properties they hold, along with any charges thereon, within two weeks from the date of the order. These details must be submitted to the Southern Regional Office at Chennai in the prescribed format.
SECURKLOUD Stock Price Movement
On Friday, shares of Securekloud Technologies Limited rallied by 5.74%, closing at ₹19.42 after advancing ₹1.06 from the previous session's close. The stock saw significant activity throughout the day, with a trading range established between a low of ₹18.05 and a high of ₹19.95, while 52,143 shares were traded.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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