STARTUP LEGAL29 Sept 2026
Lloyds Enterprises settles Sebi case over ₹144.82 crore advances | Company Business News
Lloyds Enterprises and two former executives have settled a case with Sebi, the Securities and Exchange Board of India, for ₹4.16 crore. Sebi had flagged ₹144.82 crore lent at zero interest to related firms, plus undisclosed related-party dealings. The company paid ₹1.28 crore; the ex-MD and CFO paid ₹1.44 crore each, without admitting guilt. Sebi will not pursue further action. Listed firms should check related-party disclosures.
Key Statutory Highlights
- Lloyds Enterprises paid ₹1.28 crore, while former managing director Rajesh Rajnarayan Gupta and chief financial officer Viresh Shankar Sohoni paid ₹1.44 crore each.
- Sebi said ₹144.82 crore was advanced in fiscal 2006-07 to two related entities at zero interest and without any agreement.
- The company did not disclose those two entities as related parties in its annual reports from fiscal 2016-17 through 2022-23.
Actionable Advice for Taxpayers / Founders:If your company gives or takes loans from related parties, check that these dealings are properly disclosed and approved before you file your next financials, and consider having a CA review them.
Statutory Disclaimer: TaxQue Shorts are AI-assisted editorial briefs for compliance awareness. This brief has not passed every source check; confirm the original notification before acting. This does not constitute formal legal or CA counsel.
TaxQue News Desk
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