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Lloyds Enterprises Settles SEBI Case Over Rs 144.82 Crore Advances to Promoter-Linked Entities
- •Lloyds Enterprises, its MD Rajesh Rajnarayan Gupta, and CFO Viresh Shankar Sohoni settled a SEBI case for alleged violations related to Rs 144.82 crore advanced to promoter-linked entities.
- •The company and the two individuals paid a combined Rs 4.16 crore in settlement amounts, with Lloyds Enterprises paying Rs 1.28 crore and Gupta and Sohoni each paying Rs 1.44 crore.
- •SEBI's investigation found that Lloyds Enterprises did not recognize expected credit losses on advances to Cheerful Trade & Realty Developers Pvt Ltd (CTRDPL) and Triumph Trade & Properties Developers Pvt Ltd (TTPDPL) between FY17 and FY21.
- •The regulator alleged that the Rs 144.82 crore was transferred to CTRDPL and TTPDPL in FY07 at nil interest and without an agreement, leading to misutilization of company funds.
- •Lloyds Enterprises also failed to disclose CTRDPL and TTPDPL as related parties in its annual reports from FY17 to FY23, despite them being related parties under LODR Regulations.
Key Questions Answered
Lloyds Enterprises and its officials paid a combined Rs 4.16 crore in settlement amounts to resolve the SEBI case. Lloyds Enterprises paid Rs 1.28 crore, while its former managing director Rajesh Rajnarayan Gupta and CFO Viresh Shankar Sohoni each paid Rs 1.44 crore.
SEBI found that between FY17 and FY21, Lloyds Enterprises failed to recognize expected credit losses on Rs 144.82 crore of advances outstanding from two promoter-related entities, Cheerful Trade & Realty Developers and Triumph Trade & Properties Developers. The regulator noted these funds were originally transferred in FY07 at nil interest without an agreement and were misutilized until FY23.
The settlement recommendations proposed by SEBI's High Powered Advisory Committee were approved by SEBI's Panel of Whole Time Members on July 15, 2026.
