This action was dismissed. The allegations described below were not established. This page is kept online so that the outcome is visible alongside the original filing.

SEBI v. SKR Supreme Electronics and Trading Private Limited and others (Secunderabad Healthcare warrants, dismissed on remand, 2022)

Dismissed

Checked against the primary document on October 9, 2026. The library's summary, tags and figures for this record were compared with the regulator's own document by an AI model (Claude) following written instructions, in a single reading of the order; an independent second reading of 60 SEBI records agreed on every field for 56, the four misses being penalty amounts; a later sample of 50 of the SEBI records added on 9 October agreed on every field for 46. No lawyer has reviewed them. A checked record can still contain errors, and checked does not mean endorsed. See how we check records or report a correction.

Report an error in this record (sebi-63319-market-abuse-2022) by email

In September 2022, after the Securities Appellate Tribunal sent the case back, a SEBI whole time member accepted that six allottees had paid full consideration for Secunderabad Healthcare warrants and disposed of the fraud show cause notice against them without any direction. SEBI's earlier order had restrained them for two years.

The record

Structured fields for this action, as recorded in our case library.
Agency	SEBI (India)
Date filed	2022-09-23
Date resolved	2022-09-23
Court	SEBI whole time member
Status	dismissed
Asset class	equities
Instruments	Secunderabad Healthcare Limited convertible warrants and shares
Venue	BSE
Criminal parallel	No
Defendants	SKR Supreme Electronics & Trading Private Limited (entity) ; Nishottam Traders Private Limited (entity) ; Jabeen Tradelink Private Limited (entity) ; Gajpal Buildinfra Private Limited (entity) ; Nirvana Mall Management Co. Private Limited (entity) ; Aansal Securities Services Private Limited (entity)
Also named elsewhere	Jabeen Tradelink Private Limited is named in 1 other matter
Techniques

What was ordered

Civil penalty: —
Disgorgement: —
Prejudgment interest: —
Total relief: —
Alleged gain: —

A dash means the release did not state a figure we could extract, not that the figure is zero. Penalty and disgorgement are stored separately so aggregates across the library do not double-count the same dollars.

What is alleged to have happened

A SEBI whole time member decided this matter on 23 September 2022. It concerns six of the allottees of preferential warrants in Secunderabad Healthcare Limited: SKR Supreme Electronics & Trading, Nishottam Traders, Jabeen Tradelink, Gajpal Buildinfra, Nirvana Mall Management and Aansal Securities Services.

The company allotted 8 crore convertible warrants on a preferential basis in October 2010 to 27 non-promoter entities, with at least 25 per cent payable up front and the balance within 18 months. SEBI's show cause notice of July 2019 alleged that the allottees received equity shares on conversion without paying full consideration, benefited the allottees at the expense of other shareholders, and so violated section 12A of the SEBI Act, PFUTP Regulations 3 and 4(1) and ICDR Regulations 77(1) and 77(3).

SEBI's original order of April 2021 restrained the noticees from the securities market for two years and directed them to pay the balance, and ordered two of the allottees to disgorge about Rs 6.86 crore and Rs 3.71 crore. The six noticees here appealed, and in October 2021 the Securities Appellate Tribunal sent the matter back for reconsideration in light of annual reports and other evidence.

On remand the noticees produced company records and disclosures, including a BSE disclosure of April 2012 that the company had issued shares against receipt of the balance 75 per cent of the warrant price. The member found that they had rebutted the allegations and paid full and adequate consideration, and disposed of the show cause notice against them without any direction.

The order does not address the other noticees from the original order, such as the company and the two disgorgement noticees, so the record does not show their outcome. Whether SEBI appealed this order is also not shown. No library technique fits, so the technique list is empty.

This library tags the matter as alleged under-payment for preferentially allotted warrants, with no more specific library technique. The tagging is ours, not the regulator's.

For the regulator's own account of the facts, read the primary document linked above. This page deliberately summarises the structured record rather than reproducing the order.

Timeline

2022-09-23 SEBI order on remand disposing of the show cause notice

Primary documents

Everything on this page derives from the documents below. Where our summary and the primary document disagree, the primary document is right.

The linked release is published by the issuing regulator under its own terms. Our summary and narrative above are our own writing.

Record added October 8, 2026. submit a correction.